0000814453-24-000017 | 10-K | XBRL Viewer

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Debt - Additional Information (Details) $ in Millions					12 Months Ended
Debt - Additional Information (Details) $ in Millions	Feb. 14, 2024 USD ($)	Feb. 09, 2024 USD ($)	Aug. 21, 2023 USD ($)	Aug. 03, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Feb. 08, 2024 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Unamortized deferred debt issue costs						$ 24		$ 30
Revolving credit facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						1,500
Proceeds from lines of credit						150
Receivables facility						131
Line of credit facility, remaining borrowing capacity						1,300
Revolving credit facility \| Subsequent Event
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,000					$ 1,500
Letter of Credit
Debt Instrument [Line Items]
Receivables facility						20
Senior notes
Debt Instrument [Line Items]
Expected interest rate adjustment				$ 15
Interest rate adjustment, annualized amount						8
Receivables facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						375
Receivables facility						0		$ 35
S&P Global Inc. \| Senior notes
Debt Instrument [Line Items]
Senior notes subject to interest rate adjustment			$ 3,100
Interest rate adjustment			25	50
Interest expense, long-term debt, increase (decrease)			$ 39
S&P Global Inc. \| Senior notes \| Subsequent Event
Debt Instrument [Line Items]
Interest rate adjustment	25	25
Moody's Corporation \| Senior notes
Debt Instrument [Line Items]
Expected interest rate adjustment			8
Interest rate adjustment, annualized amount						$ 2
Interest expense, long-term debt, increase (decrease)			$ 39
Moody's Corporation \| Senior notes \| Forecast
Debt Instrument [Line Items]
Interest expense, long-term debt, increase (decrease)					$ 6
Moody's Corporation \| Senior notes \| Subsequent Event
Debt Instrument [Line Items]
Interest expense, long-term debt, increase (decrease)	$ 8	$ 8

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income (loss)	$ (388)	$ 197	$ 622

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following tables display the components of accumulated other comprehensive income (loss) (“AOCL”), net of tax, as of and for the years ended December 31, 2023 and 2022 (in millions):


	Cumulative Translation Adjustment		Pension and Postretirement Cost		Derivative Financial Instruments		AOCL
Balance at December 31, 2021	$	(575)	$	(292)	$	(15)	$	(882)
Other comprehensive income (loss) before reclassifications	(119)		(25)		20		(124)
Amounts reclassified to earnings	6		8		(19)		(5)
Net current period other comprehensive income (loss)	(113)		(17)		1		(129)
Balance at December 31, 2022	$	(688)	$	(309)	$	(14)	$	(1,011)
Other comprehensive income (loss) before reclassifications	9		18		(16)		11
Amounts reclassified to earnings	11		95		4		110
Net current period other comprehensive income (loss)	20		113		(12)		121
Balance at December 31, 2023	$	(668)	$	(196)	$	(26)	$	(890)

Reclassifications from AOCL to the results of operations for the years ended December 31, were pretax (income) expense of (in millions):


	2023		2022		2021
Cumulative translation adjustment (1)	$	11	$	6	$	—
Pension and postretirement benefit plans (2)	130		13		23
Derivative financial instruments (3)	5		(21)		23

(1)See Footnote 2 for further information.

(2)See Footnote 11 for further information.

(3)See Footnote 10 for further information.

The income tax provision (benefit) allocated to the components of AOCL for the years ended December 31, are as follows (in millions):


	2023		2022		2021
Foreign currency translation adjustments	$	(20)	$	2	$	20
Unrecognized pension and postretirement costs	36		(10)		20
Derivative financial instruments	(4)		1		9
Income tax provision (benefit) related to AOCL	$	12	$	(7)	$	49

Goodwill and Other Intangible Assets, Net - Summary of Other Intangible Asset Impairment Charges Allocated to Reporting Segments (Detail) $ in Millions	3 Months Ended						12 Months Ended
	Dec. 31, 2023 USD ($) tradename	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($) tradename	Sep. 30, 2022 USD ($) tradename	Dec. 31, 2021 USD ($) tradename	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Indefinite-lived Intangible Assets [Line Items]
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]							Impairment of goodwill, intangibles and other assets
Impairment of indefinite-lived tradenames							$ 98	$ 310	$ 60
Trade Names
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived tradenames			$ 8	$ 270	$ 40	$ 60
Home and Commercial Solutions
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived tradenames							76	280	29
Number of indefinite-lived intangible assets \| tradename				2
Home and Commercial Solutions \| Trade Names
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived tradenames	$ 68
Number of indefinite-lived intangible assets \| tradename	2			2	2
Learning and Development
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived tradenames							0	30	31
Number of indefinite-lived intangible assets \| tradename				1
Learning and Development \| Trade Names
Indefinite-lived Intangible Assets [Line Items]
Number of indefinite-lived intangible assets \| tradename				1	2
Outdoor and Recreation
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived tradenames							$ 22	$ 0	$ 0
Outdoor and Recreation \| Trade Names
Indefinite-lived Intangible Assets [Line Items]
Impairment of indefinite-lived tradenames		$ 22
Home and Commercial Solutions and Learning and Development \| Trade Names
Indefinite-lived Intangible Assets [Line Items]
Number of indefinite-lived intangible assets \| tradename						2

Cover Page - USD ($) shares in Millions, $ in Billions	12 Months Ended
Cover Page - USD ($) shares in Millions, $ in Billions	Dec. 31, 2023	Feb. 14, 2024	Jun. 30, 2023
Cover Page [Abstract]
Document Type	10-K
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Entity File Number	1-9608
Entity Registrant Name	NEWELL BRANDS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3514169
Entity Address, Address Line One	6655 Peachtree Dunwoody Road,
Entity Address, Postal Zip Code	30328
Entity Address, City or Town	Atlanta,
Entity Address, State or Province	GA
City Area Code	770
Local Phone Number	418-7000
Title of 12(b) Security	Common Stock, $1 par value per share
Trading Symbol	NWL
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		414.3
Entity Public Float			$ 3.6
Documents Incorporated by Reference	Portions of the Registrant’s Definitive Proxy Statement for its Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0000814453
Document Transition Report	false
Document Annual Report	true

Leases - Schedule Of Remaining Lease Term and Discount Rates (Detail)	Dec. 31, 2023	Dec. 31, 2022
Weighted-average remaining lease term (years):
Operating leases	7 years	8 years
Finance leases	0 years	1 year
Weighted-average discount rate:
Operating leases	4.30%	4.60%
Finance leases	0.00%	0.80%

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Condensed Consolidated Balance Sheet Information, Leases

Supplemental consolidated balance sheet information for leases at December 31, is as follows (in millions):


	Classification	2023		2022
Assets
Operating leases	Operating lease assets	$	515	$	578
Finance leases	Property, plant and equipment, net (1)	—		2
Total lease assets		$	515	$	580

Liabilities
Current
Operating leases	Other accrued liabilities	$	122	$	121
Finance leases	Short-term debt and current portion of long-term debt	—		1
Noncurrent
Operating leases	Operating lease liabilities	446		512
Finance leases	Long-term debt	—		1
Total lease liabilities		$	568	$	635

(1)Net of accumulated depreciation of $4 million and $18 million, respectively.

Schedule of Lease Costs, Terms, Discount Rates and Supplemental Cash Flow Information

Components of lease expense for the years ended December 31, are as follows (in millions):


	2023		2022		2021
Operating lease cost:
Operating lease cost (1)	$	172	$	172	$	166
Variable lease costs (2)	24		21		23
Finance lease cost
Amortization of leased assets	1		4		4

(1)Includes short-term leases, which are immaterial.

(2)Consists primarily of additional payments for non-lease components, such as maintenance costs, payments of taxes and additional rent based on a level of the Company’s retail store sales.

Remaining lease term and discount rates at December 31, are as follows:


	2023	2022
Weighted-average remaining lease term (years):
Operating leases	7	8
Finance leases	0	1
Weighted-average discount rate:
Operating leases	4.3%	4.6%
Finance leases	—%	0.8%

Supplemental cash flow information related to leases for the years ended December 31, are as follows (in millions):


	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	162	$	160	$	163

Financing cash flows from finance leases	—		3		4

Right of use assets obtained in exchange for lease liabilities:
Operating leases	46		135		144

Schedule of Maturities for Operating Lease Liabilities

Maturities of lease liabilities at December 31, 2023, are as follows (in millions):


	Operating Leases
2024	$	146
2025	116
2026	89
2027	68
2028	60
Thereafter	173
Total lease payments	652
Less: imputed interest	(84)
Present value of lease liabilities	$	568

Goodwill and Other Intangible Assets, Net - Additional Information (Detail) - USD ($)	3 Months Ended				12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill, impairment loss					$ 241,000,000	$ 164,000,000
Amortization expense for intangible assets					$ 109,000,000	$ 100,000,000	$ 120,000,000
Baby Reporting Unit
Finite-Lived Intangible Assets [Line Items]
Goodwill, impairment loss	$ 241,000,000	$ 0
Home Solutions
Finite-Lived Intangible Assets [Line Items]
Goodwill, impairment loss			$ 56,000,000	$ 108,000,000

Income Taxes - Schedule of Components of Net Deferred Tax Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Accruals	$ 190	$ 153
Inventory	74	84
Pension and postretirement benefits	38	49
Net operating losses	322	295
Foreign tax credits	16	27
Capital loss carryforward	43	41
Operating lease liabilities	153	169
Capitalized research and development expenses	68	36
Interest expense carryforward	91	28
Other	122	116
Total gross deferred tax assets	1,117	998
Less valuation allowance	(184)	(148)
Net deferred tax assets after valuation allowance	933	850
Deferred tax liabilities:
Accelerated depreciation	(112)	(119)
Amortizable intangibles	(69)	(114)
Outside basis differences	(12)	(96)
Operating lease assets	(140)	(154)
Other	(35)	(77)
Total gross deferred tax liabilities	(368)	(560)
Net deferred tax assets	$ 565	$ 290

Debt - Schedule of Maturities of Long-term Debt (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 332
2025	547
2026	1,985
2027	500
2028	2
Thereafter	1,586
Total	$ 4,952

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income (Loss) Before Income Taxes

The components of income (loss) before income taxes for the years ended December 31, (in millions):


	2023		2022		2021
Domestic	$	(995)	$	(698)	$	(353)
Foreign	452		855		1,113
Total	$	(543)	$	157	$	760

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following for the years ended December 31, (in millions):


	2023		2022		2021
Current:
Federal	$	56	$	(245)	$	48
State	1		6		17
Foreign	71		102		97
Total current	128		(137)		162
Deferred:
Federal	(232)		163		(26)
State	(40)		(34)		(20)
Foreign	(11)		(32)		22
Total deferred	(283)		97		(24)
Total income tax provision (benefit)	$	(155)	$	(40)	$	138

Schedule of Reconciliation of U.S. Statutory Rate to Effective Income Tax Rate on Continuing Basis

A reconciliation of the U.S. statutory rate to the effective income tax rate on a continuing basis is as follows for the years ended December 31:


	2023		2022		2021
Statutory rate	21.0	%	21.0	%	21.0	%
Add (deduct) effect of:
State income taxes, net of federal income tax effect	5.7		(14.8)		(0.5)
U.S. foreign inclusions and foreign tax credit (1)	(2.4)		(43.5)		3.6
Foreign rate differential	12.3		(47.2)		(11.6)
Change in uncertain tax positions	—		16.7		0.1
Change in valuation allowance reserve	(9.2)		(13.8)		(3.8)

Impairments	1.0		20.7		—
Sale of businesses	(0.9)		(21.2)		—
Capital loss	1.4		—		(2.1)
Reversal of outside basis difference	11.2		1.6		0.4


Non-deductible compensation	(1.1)		1.9		0.4

Other taxes	(1.8)		4.5		1.3
U.S. income inclusions on asset transfers	(10.1)		50.3		11.1
Foreign exchange	—		2.0		—
Other tax credits	1.8		1.0		(0.4)
Return to provision	1.5		(11.3)		(1.7)
Other	(1.9)		6.6		0.4
Effective rate	28.5	%	(25.5)	%	18.2	%

(1)The Company accounts for tax on global intangible low-taxed income (“GILTI”) as a period cost and the effects are included herein.

Schedule of Components of Net Deferred Tax Assets

Deferred tax assets (liabilities) consist of the following at December 31, (in millions):


	2023		2022
Deferred tax assets:
Accruals	$	190	$	153
Inventory	74		84
Pension and postretirement benefits	38		49
Net operating losses	322		295
Foreign tax credits	16		27
Capital loss carryforward	43		41
Operating lease liabilities	153		169
Capitalized research and development expenses	68		36
Interest expense carryforward	91		28
Other	122		116
Total gross deferred tax assets	1,117		998
Less valuation allowance	(184)		(148)
Net deferred tax assets after valuation allowance	933		850
Deferred tax liabilities:
Accelerated depreciation	(112)		(119)
Amortizable intangibles	(69)		(114)
Outside basis differences	(12)		(96)
Operating lease assets	(140)		(154)

Other	(35)		(77)
Total gross deferred tax liabilities	(368)		(560)
Net deferred tax assets	$	565	$	290

The net deferred tax amounts have been classified in the balance sheet at December 31, (in millions):


	2023		2022
Noncurrent deferred tax assets	$	806	$	810
Noncurrent deferred tax liabilities	(241)		(520)
Net deferred tax assets	$	565	$	290

Schedule of Changes in Gross Unrecognized Tax Benefits

The following table summarizes the changes in gross unrecognized tax benefits periods indicated are as follows (in millions):


	2023		2022		2021
Unrecognized tax benefits, January 1,	$	476	$	457	$	452
Increases (decreases):
Increases in tax positions for prior years	—		1		1
Decreases in tax positions for prior years	(19)		(3)		(4)
Increase in tax positions for the current period	12		44		23
Settlements with taxing authorities	—		(13)		(2)
Lapse of statute of limitations	(6)		(10)		(12)
Cumulative translation adjustments	—		—		(1)
Unrecognized tax benefits, December 31,	$	463	$	476	$	457

Segment Information - Schedule of Geographic Area Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 8,133	$ 9,459	$ 10,589
United States
Segment Reporting Information [Line Items]
Net sales	5,129	6,144	6,921
Canada
Segment Reporting Information [Line Items]
Net sales	313	375	444
Total North America
Segment Reporting Information [Line Items]
Net sales	5,442	6,519	7,365
Europe, Middle East and Africa
Segment Reporting Information [Line Items]
Net sales	1,283	1,408	1,647
Latin America
Segment Reporting Information [Line Items]
Net sales	863	837	810
Asia Pacific
Segment Reporting Information [Line Items]
Net sales	545	695	767
International
Segment Reporting Information [Line Items]
Net sales	$ 2,691	$ 2,940	$ 3,224

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Debt - Schedule of Fair Value of Senior Notes (Detail) - Senior notes - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Fair Value	$ 4,633	$ 4,511
Book Value	$ 4,772	$ 4,756

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Inventories

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories

Inventories are stated at the lower of cost or net realizable value. The Company reduces its inventory value for estimated obsolete and slow-moving inventory in an amount equal to the difference between the cost of inventory and the net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, additional inventory write-downs may be required. Inventory costs include direct materials, direct labor and manufacturing overhead, or when finished goods are sourced, the cost is the amount paid to the third party.

The components of inventories were as follows at December 31, (in millions):


	2023		2022
Raw materials and supplies	$	214	$	285
Work-in-process	173		218
Finished products	1,144		1,700
	$	1,531	$	2,203

Employee Benefit and Retirement Plans - Summary of Under-Funded or Non-Funded Pension Benefit Plans with Projected Benefit Obligation in Excess of Plan Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Projected benefit obligation	$ 315	$ 311
Fair value of plan assets	$ 129	$ 125

Other Accrued Liabilities

12 Months Ended

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Other Accrued Liabilities

Other accrued liabilities included the following at December 31, (in millions):


	2023		2022
Customer accruals	$	659	$	636
Operating lease liabilities	122		121
Accrued self-insurance liabilities, contingencies and warranty	92		99
Accrued income taxes	89		53
Accrued interest expense	74		63
Accrued marketing and freight expenses	71		73
Other	268		227
	$	1,375	$	1,272

Customer accruals are promotional allowances and rebates, including cooperative advertising, given to customers in exchange for their selling efforts and volume purchased, as well as allowances for returns. Payments for annual rebates and other customer programs are generally made in the first quarter of the year. Self-insurance liabilities relate to casualty liabilities such as workers’ compensation, general and product liability and auto liability and are estimated based upon historical loss experience combined with actuarial evaluation methods, review of significant individual files and the application of risk transfer programs.

Divestiture Activity	12 Months Ended
Divestiture Activity	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Divestiture Activity	Divestiture Activity 2023 On November 30, 2023, the Company sold its Millefiori business, based in Italy, in the Home and Commercial Solutions segment to a third party for purchase price that is not material to the Company. As a result, the Company recorded an immaterial, pretax gain which is included in other (income) expense, net in Consolidated Statements of Operations. 2022 On March 31, 2022, the Company sold its CH&S business unit to Resideo Technologies, Inc., for approximately $593 million, subject to customary working capital and other post-closing adjustments. As a result, during the year ended December 31, 2022, the Company recorded a pretax gain of $136 million, which was included in other (income) expense, net in Consolidated Statements of Operations.

Share-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

Stock-based compensation expense is adjusted for estimated forfeitures and is recognized on a straight-line basis over the requisite service period of the award, which is generally three years for stock options and one to three years for time-based and performance-based restricted stock units. The Company estimates future forfeiture rates based on its historical experience.

On May 19, 2023, the Company adopted the 2023 Special Incentive Program (the “SIP”) to incentivize performance against multi-year goals and to aid in the retention of certain Company executives. On July 5, 2023, pursuant to the SIP, the Company granted performance-based restricted stock unit awards to the Company’s President and Chief Executive Officer (“CEO”) and the Company’s Chief Financial Officer (“CFO”) that vest on February 28, 2026, subject to the achievement of the applicable performance measures. On the same date, the Company granted time-based and performance-based restricted stock unit awards to certain key executives, other than the CEO and CFO, pursuant to the SIP. The time-based restricted stock units granted to such other executives pursuant to the SIP will fully vest on the one-year anniversary of the date of grant, while the performance-based restricted stock units granted to such other executives pursuant to the SIP will vest 70% on the two-year anniversary of the grant date and 30% on the three-year anniversary of the grant date, subject to the achievement of applicable performance measures.

The Company maintains a 2013 Incentive Plan and a 2022 Incentive Plan (collectively, the “Incentive Plans”), which allow for grants of stock-based awards. At December 31, 2023, there were approximately 21 million share-based awards collectively available for grant under the Incentive Plans. The 2013 Incentive Plan generally provides for stock-based awards to employees to vest over a minimum of three years, although some awards may vest earlier if granted to a new employee or if tied to the achievement of specified market or performance conditions, in which case such awards vest no earlier than one year from the date of grant. The 2022 Incentive Plan generally provides for stock-based awards to employees to vest no earlier than one year from the date of grant, subject to a de minimis exception. The stock-based awards granted to employees include stock options and time-based and performance-based restricted stock units, as follows:

Stock Options

In years in which the Company has elected to grant stock options, it has issued them at exercise prices equal to the Company’s common stock price on the date of grant with contractual terms of ten years. Stock options issued by the Company generally vest and are expensed ratably over three years. Stock option grants are generally subject to forfeiture if employment terminates prior to vesting, except upon retirement, death or disability, in which case the options may remain outstanding and exercisable for a specified period not to exceed the remaining contractual term of the option.

The following table summarizes the changes in the number of shares of common stock for 2023 (shares and aggregate intrinsic value in millions):


	Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Life (in years)	Aggregate Intrinsic Value
Outstanding at December 31, 2022	6.5	$	23
Granted	0.5	13
Exercised	—	—
Forfeited	(0.4)	24
Outstanding at December 31, 2023	6.6	$	22	6.9	$0

Options exercisable, end of year	4.2	$	21	6.4	$0

During 2023, the Company awarded 0.5 million time-based stock options with an aggregate grant date fair value of $2 million. These stock options entitle recipients to purchase shares of the Company’s common stock at an exercise price equal to the fair market value of the underlying shares as of the grant date and cliff vest on the fifth anniversary of the grant date for certain awards or the earlier of the first anniversary of the grant date or the date immediately preceding the Company’s 2024 annual meeting of shareholders for other awards.

The weighted average assumptions used to determine the fair value of stock options granted for the years ended December 31, are as follows:


	2023		2022
Expected life in years	7		6
Risk-free interest rate	3.6	%	1.9	%
Expected volatility	42.1	%	42.0	%
Expected dividend yield	4.4	%	5.1	%

The total intrinsic value of options exercised was immaterial in 2023 and 2022 and $2 million in 2021.

Time-Based and Performance-Based Restricted Stock Units

Time-based restricted stock unit awards (“Time-Based RSUs”), including such awards granted under the SIP, represent the right to receive unrestricted shares of stock based on continued employment and are generally subject to forfeiture if employment terminates prior to the vesting date, except a termination for death, disability or retirement. Time-Based RSU awards to employees primarily vest over a one to three-year period. In the case of retirement (as defined in the award agreement), Time-Based RSUs generally vest in part depending on the employee’s age and years of service.

Time-Based RSUs have dividend equivalents credited to the recipient that are paid only to the extent the applicable service criteria is met, the Time-Based RSUs vest and the related stock is issued.

Performance-based restricted stock unit awards (“Performance-Based RSUs”), including such awards granted under the SIP, represent the right to receive unrestricted shares of stock based on continuous employment plus the achievement of Company performance objectives and/or individual performance goals established by the Compensation and Human Capital Committee of the Board of Directors. Such awards are generally subject to forfeiture if employment terminates prior to vesting, except a termination for death, disability or retirement. In the case of retirement (as defined in the award agreement), Performance-Based RSUs vest in whole or part depending on the employee’s age and years of service, subject to the satisfaction of the applicable performance criteria.

Performance-Based RSUs generally entitle recipients to shares of common stock if performance objectives are achieved, and typically vest no earlier than one year from the date of grant and no later than three years from the date of grant. The actual number of shares that will ultimately be earned is dependent on the level of achievement of the specified performance conditions. For restricted stock units with performance conditions that are based on stock price (“Stock-Price Based RSUs”), the grant date fair value of certain Stock-Price based RSUs is estimated using a Monte Carlo simulation, with the primary input into such valuation being the expected future volatility of the Company’s common stock, and if applicable, the volatilities of the common stocks of the companies in the Company’s peer group, upon which the relative total shareholder return performance is measured. Performance-Based RSUs have dividend equivalents credited to the recipient that are paid only to the extent the applicable service and performance criteria are met, the Performance-Based RSUs vest and the related stock is issued .

The Company accounts for stock-based compensation pursuant to relevant authoritative guidance, which requires measurement of compensation cost for all stock awards at fair value on the date of grant and recognition of compensation, net of estimated forfeitures, over the longer of the derived service period or explicit requisite service period for awards expected to vest. For non- stock-price based Performance-Based RSUs, the Company assesses the probability of achievement of the performance conditions each period and records expense for the awards based on the probable achievement of such metrics.

The following table summarizes the changes in the number of outstanding restricted stock units for 2023 (shares in millions):


	Restricted Stock Unit	Weighted Average Grant Date Fair Value Per Share
Outstanding at December 31, 2022	4.5	$	24
Granted	10.5	11
Grant adjustment (1)	(0.6)	22
Vested	(0.9)	22
Forfeited	(1.0)	19
Outstanding at December 31, 2023	12.5	$	14

Expected to vest, end of year	12.5	$	12

(1)The Grant Adjustment primarily relates to an adjustment in the quantity of Performance-Based RSUs ultimately vested during 2023 that were dependent on the level of achievement of the specified performance conditions.

The weighted-average grant-date fair values of awards granted were $26 and $25 per share in 2022 and 2021, respectively. The fair values of awards that vested were $13 million, $39 million and $32 million in 2023, 2022 and 2021, respectively.

During 2023, the Company awarded 4.4 million Time-Based RSUs, which had an aggregate grant date fair value of $54 million, that generally vests in annual installments over a one to three-year period.

During 2023, the Company also awarded 6.1 million Performance-Based RSUs with an aggregate grant date fair value of $62 million, that generally entitle the recipients to shares of the Company’s common stock over a two to three-year vesting period. The actual number of shares that will ultimately be paid upon vesting is dependent on the level of achievement of the specified performance conditions.

The following table summarizes the Company’s total unrecognized compensation cost related to stock-based compensation at December 31, 2023:


(in millions)	Unrecognized Compensation Cost		Weighted Average Period of Expense Recognition (in years)
Restricted stock units	$	80	1
Stock options	4		1
Total	$	84	1

Excess tax benefits (detriments) related to stock-based compensation for 2023, 2022 and 2021 were $(2) million, $2 million and $1 million, respectively.

Income Taxes - Summary of Changes in Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, January 1,	$ 476	$ 457	$ 452
Increases (decreases):
Increases in tax positions for prior years	0	1	1
Decreases in tax positions for prior years	(19)	(3)	(4)
Increase in tax positions for the current period	12	44	23
Settlements with taxing authorities	0	(13)	(2)
Lapse of statute of limitations	(6)	(10)	(12)
Cumulative translation adjustments	0	0	(1)
Unrecognized tax benefits, December 31,	$ 463	$ 476	$ 457

Restructuring - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 95	$ 15	$ 16
Project Phoenix
Restructuring Cost and Reserve [Line Items]
Restructuring charges	78
Project Phoenix \| Other charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5
Project Phoenix \| Minimum
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	100
Expected cash payments	95
Project Phoenix \| Minimum \| Employee severance payments and other termination benefits
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	80
Project Phoenix \| Minimum \| Office space reductions
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	15
Project Phoenix \| Maximum
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	130
Expected cash payments	120
Project Phoenix \| Maximum \| Employee severance payments and other termination benefits
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	105
Project Phoenix \| Maximum \| Office space reductions
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	20
Network Optimization Project
Restructuring Cost and Reserve [Line Items]
Restructuring charges	7
Network Optimization Project \| Minimum
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	37
Expected cash payments	35
Network Optimization Project \| Minimum \| Employee severance payments and other termination benefits
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	8
Network Optimization Project \| Minimum \| Industrial Site Reductions
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	29
Network Optimization Project \| Maximum
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	49
Expected cash payments	44
Network Optimization Project \| Maximum \| Employee severance payments and other termination benefits
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	11
Network Optimization Project \| Maximum \| Industrial Site Reductions
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	38
Other Restructuring And Restructuring-Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	10	$ 15	$ 16
Realignment Plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	75
Realignment Plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Estimated aggregate restructuring charges	$ 90

Derivatives and Foreign Currency Operations (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Financial Instruments

The following table presents the fair value of derivative financial instruments at December 31, (in millions):


		2023		2022
	Balance Sheet Location	Assets (Liabilities)
Derivatives designated as effective hedges:
Cash Flow Hedges
Foreign currency contracts	Prepaid expenses and other current assets	$	1	$	5
Foreign currency contracts	Other accrued liabilities	(13)		(9)
Fair Value Hedges

Interest rate swaps	Other accrued liabilities	(15)		(14)
Interest rate swaps	Other noncurrent liabilities	(4)		(16)
Net Investment Hedges
Cross-currency swaps	Prepaid expenses and other current assets	22		28
Cross-currency swaps	Other assets	15		45
Cross-currency swaps	Other noncurrent liabilities	(119)		(75)

Derivatives not designated as effective hedges:
Foreign currency contracts	Prepaid expenses and other current assets	7		19
Foreign currency contracts	Other accrued liabilities	(14)		(10)

Total		$	(120)	$	(27)

Schedule of Pretax Effects of Derivative Financial Instruments Designated or Previously Designated as Effective Hedges

The following table presents pretax gain and (loss) activity for 2023, 2022 and 2021 related to derivative financial instruments designated as effective hedges:


	2023				2022				2021
	Gain (Loss)				Gain (Loss)				Gain (Loss)
(in millions)	Recognized in OCL (1)		Reclassified from AOCL to Income		Recognized in OCL (1)		Reclassified from AOCL to Income		Recognized in OCL (1)		Reclassified from AOCL to Income
Interest rate swaps (2)	$	—	$	(5)	$	—	$	(6)	$	—	$	(6)
Foreign currency contracts (3)	(21)		—		24		27		14		(17)
Cross-currency swaps (4)	(80)		—		21		—		69		—
Total	$	(101)	$	(5)	$	45	$	21	$	83	$	(23)

(1)Represents effective portion recognized in Other Comprehensive Loss (“OCL”).

(2)Portion reclassified from AOCL to income recognized in interest expense, net.

(3)Portion reclassified from AOCL to income recognized in net sales and cost of products sold.

(4)Portion reclassified from AOCL to income recognized in other (income) expense, net.

Debt - Summary of Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Commercial paper	$ 0	$ 359
Other debt	1	2
Total debt	4,904	5,377
Short-term debt and current portion of long-term debt	(329)	(621)
Long-term debt	4,575	4,756
Receivables facility
Debt Instrument [Line Items]
Receivables facility	$ 0	35
4.000% senior notes due 2024
Debt Instrument [Line Items]
Interest rate	4.00%
Senior notes	$ 198	196
4.875% senior notes due 2025
Debt Instrument [Line Items]
Interest rate	4.875%
Senior notes	$ 498	496
3.900% senior notes due 2025
Debt Instrument [Line Items]
Interest rate	3.90%
Senior notes	$ 47	47
4.200% senior notes due 2026
Debt Instrument [Line Items]
Interest rate	4.20%
Senior notes	$ 1,980	1,978
6.375% senior notes due 2027
Debt Instrument [Line Items]
Interest rate	6.375%
Senior notes	$ 488	483
6.625% senior notes due 2029
Debt Instrument [Line Items]
Interest rate	6.625%
Senior notes	$ 486	481
5.375% senior notes due 2036
Debt Instrument [Line Items]
Interest rate	5.375%
Senior notes	$ 417	417
5.500% senior notes due 2046
Debt Instrument [Line Items]
Interest rate	5.50%
Senior notes	$ 658	658
Revolving credit facility
Debt Instrument [Line Items]
Senior notes	$ 131	$ 225

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	10,000,000.0	10,000,000.0
Preferred stock, par value (in USD per share)	$ 1.00	$ 1.00
Preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	800,000,000.0	800,000,000.0
Common stock, par value (in USD per share)	$ 1.00	$ 1.00
Common stock, shares issued (in shares)	439,600,000	438,600,000
Treasury stock, shares (in shares)	25,300,000	25,000,000.0

Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		12 Months Ended
	Jul. 05, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option exercises in period, total intrinsic value		$ 0	$ 0	$ 2
Granted, weighted-average grant date fair value (per share)		$ 11	$ 26	$ 25
Fair value of vested awards		$ 13	$ 39	$ 32
Excess tax benefit (detriments) related to stock-based compensation		$ (2)	$ 2	$ 1
2013 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards vesting period		3 years
Share-based awards available for grant (in shares)		21.0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period		3 years
Share-based awards vesting period		3 years
Share-based awards contractual term (in years)		10 years
Time-Based Restricted Stock Units (RSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award performance share unit award number (in shares)		4.4
Aggregate grant date fair value		$ 54
Time-Based Restricted Stock Units (RSU) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period		1 year
Share-based awards vesting period		1 year
Time-Based Restricted Stock Units (RSU) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period		3 years
Share-based awards vesting period		3 years
Time-Based Restricted Stock Units (RSU) \| Certain Key Executives Other Than CEO And CFO \| Special Incentive Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards vesting period	1 year
Performance-Based Restricted Stock Units (RSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award performance share unit award number (in shares)		6.1
Aggregate grant date fair value		$ 62
Performance-Based Restricted Stock Units (RSU) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period		1 year
Share-based awards vesting period		1 year
Performance-Based Restricted Stock Units (RSU) \| Minimum \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards vesting period		2 years
Performance-Based Restricted Stock Units (RSU) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period		3 years
Share-based awards vesting period		3 years
Performance-Based Restricted Stock Units (RSU) \| Maximum \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards vesting period		3 years
Performance-Based Restricted Stock Units (RSU) \| Certain Key Executives Other Than CEO And CFO \| Special Incentive Program \| Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards vesting period	2 years
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	70.00%
Performance-Based Restricted Stock Units (RSU) \| Certain Key Executives Other Than CEO And CFO \| Special Incentive Program \| Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards vesting period	3 years
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	30.00%
Performance Shares \| Minimum \| 2013 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards vesting period		1 year
Performance Shares \| Minimum \| 2022 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards vesting period		1 year
Time-Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award performance share unit award number (in shares)		0.5
Aggregate grant date fair value		$ 2

Segment Information - Schedule of Segment Reporting Information, by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 8,133	$ 9,459	$ 10,589
Operating income (loss)	(85)	312	1,013
Other Segment Data [Abstract]
Impairment of goodwill and intangible assets	339	474	60
Segment assets	12,163	13,262
Operating Segments
Segment Reporting Information [Line Items]
Net sales	8,133	9,459	10,589
Other Segment Data [Abstract]
Depreciation and amortization	334	296	325
Capital expenditures	284	312	289
Corporate
Segment Reporting Information [Line Items]
Operating income (loss)	(252)	(155)	(243)
Other Segment Data [Abstract]
Depreciation and amortization	65	57	64
Capital expenditures	115	114	61
Segment assets	2,652	2,605
Home and Commercial Solutions
Segment Reporting Information [Line Items]
Net sales	4,428	5,194	6,077
Other Segment Data [Abstract]
Impairment of goodwill and intangible assets	76	444	29
Home and Commercial Solutions \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	4,428	5,194	6,077
Operating income (loss)	37	(212)	566
Other Segment Data [Abstract]
Depreciation and amortization	163	145	169
Capital expenditures	93	107	131
Segment assets	4,713	5,243
Learning and Development
Segment Reporting Information [Line Items]
Net sales	2,706	2,950	3,028
Other Segment Data [Abstract]
Impairment of goodwill and intangible assets	241	30	31
Learning and Development \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,706	2,950	3,028
Operating income (loss)	213	593	600
Other Segment Data [Abstract]
Depreciation and amortization	71	60	57
Capital expenditures	60	70	73
Segment assets	4,111	4,494
Outdoor and Recreation
Segment Reporting Information [Line Items]
Net sales	999	1,315	1,484
Other Segment Data [Abstract]
Impairment of goodwill and intangible assets	22	0	0
Outdoor and Recreation \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	999	1,315	1,484
Operating income (loss)	(83)	86	90
Other Segment Data [Abstract]
Depreciation and amortization	35	34	35
Capital expenditures	16	21	$ 24
Segment assets	$ 687	$ 920

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Components of Accumulated Other Comprehensive Income (Loss)

The following tables display the components of accumulated other comprehensive income (loss) (“AOCL”), net of tax, as of and for the years ended December 31, 2023 and 2022 (in millions):


	Cumulative Translation Adjustment		Pension and Postretirement Cost		Derivative Financial Instruments		AOCL
Balance at December 31, 2021	$	(575)	$	(292)	$	(15)	$	(882)
Other comprehensive income (loss) before reclassifications	(119)		(25)		20		(124)
Amounts reclassified to earnings	6		8		(19)		(5)
Net current period other comprehensive income (loss)	(113)		(17)		1		(129)
Balance at December 31, 2022	$	(688)	$	(309)	$	(14)	$	(1,011)
Other comprehensive income (loss) before reclassifications	9		18		(16)		11
Amounts reclassified to earnings	11		95		4		110
Net current period other comprehensive income (loss)	20		113		(12)		121
Balance at December 31, 2023	$	(668)	$	(196)	$	(26)	$	(890)

Schedule of Reclassifications from AOCL to Results of Operations

Reclassifications from AOCL to the results of operations for the years ended December 31, were pretax (income) expense of (in millions):


	2023		2022		2021
Cumulative translation adjustment (1)	$	11	$	6	$	—
Pension and postretirement benefit plans (2)	130		13		23
Derivative financial instruments (3)	5		(21)		23

(1)See Footnote 2 for further information.

(2)See Footnote 11 for further information.

(3)See Footnote 10 for further information.

Schedule of Income Tax Provision (Benefit) Allocated to Components of AOCL

The income tax provision (benefit) allocated to the components of AOCL for the years ended December 31, are as follows (in millions):


	2023		2022		2021
Foreign currency translation adjustments	$	(20)	$	2	$	20
Unrecognized pension and postretirement costs	36		(10)		20
Derivative financial instruments	(4)		1		9
Income tax provision (benefit) related to AOCL	$	12	$	(7)	$	49

Share-Based Compensation - Summary of Total Unrecognized Compensation Cost Related to Stock-based Compensation (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 84
Weighted Average Period of Expense Recognition (in years)	1 year
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 80
Weighted Average Period of Expense Recognition (in years)	1 year
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 4
Weighted Average Period of Expense Recognition (in years)	1 year

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Employee Benefit and Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2023

Defined Benefit Plan Disclosure [Line Items]

Schedule of Reconciliation of Benefit Obligations

The following provides a reconciliation of benefit obligations, plan assets and funded status of the Company’s noncontributory defined benefit pension plans, including the SERP, at December 31, (dollars in millions):


	Pension Benefits												Postretirement Benefits
	United States						International
Change in benefit obligation:	2023			2022			2023			2022			2023			2022
Benefit obligation at beginning of year	$	936		$	1,238		$	417		$	623		$	30		$	41
Service cost	—			—			3			4			—			—
Interest cost	44			25			15			8			1			1
Actuarial gain	(24)			(247)			(13)			(137)			(2)			(8)

Currency translation	—			—			14			(56)			—			—
Benefits paid	(79)			(80)			(20)			(23)			(3)			(4)

Curtailments, settlements and other	(164)			—			(172)			(2)			—			—
Benefit obligation at end of year (1)	$	713		$	936		$	244		$	417		$	26		$	30
Change in plan assets:
Fair value of plan assets at beginning of year	843			1,133			354			595			—			—
Actual return on plan assets	57			(220)			(10)			(166)			—			—
Contributions	11			10			12			7			3			4
Currency translation	—			—			13			(57)			—			—
Benefits paid	(79)			(80)			(20)			(23)			(3)			(4)

Settlements and other	(164)			—			(173)			(2)			—			—
Fair value of plan assets at end of year	$	668		$	843		$	176		$	354		$	—		$	—
Funded status at end of year	$	(45)		$	(93)		$	(68)		$	(63)		$	(26)		$	(30)
Amounts recognized in the Consolidated Balance Sheets:
Prepaid benefit cost, included in other assets	$	50		$	7		$	23		$	23		$	—		$	—
Accrued current benefit cost—other accrued liabilities	(11)			(11)			(4)			(4)			(4)			(4)
Accrued noncurrent benefit cost— other noncurrent liabilities	(84)			(89)			(87)			(82)			(22)			(26)
Net amount recognized	$	(45)		$	(93)		$	(68)		$	(63)		$	(26)		$	(30)
Assumptions:
Weighted-average assumptions used to determine benefit obligation:
Discount rate	4.94		%	5.20		%	3.82		%	4.07		%	4.84		%	5.11		%
Long-term rate of compensation increase	3.00		%	3.00		%	2.37		%	2.41		%	—		%	—		%
Current health care cost trend rates	—		%	—		%	—		%	—		%	5.87		%	6.65		%
Ultimate health care cost trend rates	—		%	—		%	—		%	—		%	4.50		%	4.50		%

(1)The accumulated benefit obligation for all defined benefit pension plans was $1.0 billion and $1.4 billion at December 31, 2023 and 2022, respectively.

Schedule Of Company's Pension Cost And Supplemental Retirement Plans

The components of pension and postretirement benefit expense for the periods indicated are as follows (dollars in millions):


	Pension Benefits
	United States									International
	2023			2022			2021			2023			2022			2021
Service cost	$	—		$	—		$	—		$	3		$	4		$	4
Interest cost	44			25			20			15			8			6
Expected return on plan assets	(52)			(47)			(51)			(11)			(6)			(3)
Amortization:
Prior service cost	—			—			—			3			1			1
Net actuarial loss	3			16			22			3			2			3
Curtailment, settlement and termination costs	60			—			—			66			—			—
Total (income) expense	$	55		$	(6)		$	(9)		$	79		$	9		$	11
Assumptions
Weighted average assumption used to calculate net periodic cost:
Effective discount rate for benefit obligations	5.34		%	2.64		%	2.16		%	4.07		%	1.61		%	1.22		%
Effective rate for interest on benefit obligations	5.23		%	2.13		%	1.54		%	4.00		%	1.46		%	0.92		%
Effective rate for service cost	—		%	2.94		%	2.63		%	3.20		%	0.96		%	0.71		%
Effective rate for interest on service cost	—		%	2.97		%	2.61		%	3.06		%	0.78		%	0.54		%
Long-term rate of return on plan assets	5.88		%	4.75		%	5.25		%	3.61		%	1.06		%	0.51		%
Long-term rate of compensation increase	3.00		%	3.00		%	3.00		%	2.41		%	2.27		%	2.18		%


	Postretirement Benefits
	2023			2022			2021

Interest cost	$	1		$	1		$	1
Amortization:

Net actuarial gain	(6)			(5)			(3)
Total income	$	(5)		$	(4)		$	(2)

Assumptions
Weighted average assumption used to calculate net periodic cost:
Effective discount rate for benefit obligations	5.11		%	2.34		%	1.80		%
Effective rate for interest on benefit obligations	5.04		%	1.77		%	1.18		%
Effective rate for service cost	4.97		%	1.98		%	1.32		%
Effective rate for interest on service cost	4.90		%	1.67		%	1.02		%

Schedule of Expected Benefit Payments

Estimated future benefit payments under the Company’s defined benefit pension plans and postretirement benefit plans are as follows at December 31, 2023 (in millions):


	2024		2025		2026		2027		2028		Thereafter
Pension benefits	$	79	$	76	$	75	$	77	$	75	$	357
Postretirement benefits	4		4		4		3		3		9

Pension Benefits

Defined Benefit Plan Disclosure [Line Items]

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

Summary of under-funded or non-funded pension benefit plans with projected benefit obligations in excess of plan assets at December 31, (in millions):


	Pension Benefits
	2023		2022
Projected benefit obligation	$	315	$	311
Fair value of plan assets	129		125

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

Summary of pension plans with accumulated obligations in excess of plan assets at December 31, (in millions):


	Pension Benefits
	2023		2022
Accumulated benefit obligation	$	309	$	303
Fair value of plan assets	129		123

Schedule of Allocation of Plan Assets

The composition of domestic pension plan assets at December 31, 2023 and 2022 is as follows (in millions):


	Plan Assets — Domestic Plans
	December 31, 2023
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total

Equity securities and funds	$	—	$	—	$	—	$	—	$	70	$	70
Fixed income securities and funds	250		—		—		250		329		579
Alternative investments	—		—		—		—		2		2
Cash and other	15		2		—		17		—		17
Total	$	265	$	2	$	—	$	267	$	401	$	668

	Plan Assets — Domestic Plans
	December 31, 2022
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total

Equity securities and funds	$	—	$	—	$	—	$	—	$	158	$	158
Fixed income securities and funds	369		—		—		369		303		672
Alternative investments	—		—		—		—		2		2
Cash and other	8		3		—		11		—		11
Total	$	377	$	3	$	—	$	380	$	463	$	843

The composition of international pension plan assets at December 31, 2023 and 2022 is as follows (in millions):


	Plan Assets — International Plans
	December 31, 2023
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total
Equity securities and funds	$	3	$	4	$	—	$	7	$	—	$	7
Fixed income securities and funds	4		6		—		10		—		10
Cash and other	4		145		10		159		—		159
Total	$	11	$	155	$	10	$	176	$	—	$	176

	Plan Assets — International Plans
	December 31, 2022
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total
Equity securities and funds	$	3	$	3	$	—	$	6	$	—	$	6
Fixed income securities and funds	6		5		—		11		—		11
Cash and other	3		140		194		337		—		337
Total	$	12	$	148	$	194	$	354	$	—	$	354

Postretirement Benefits

Defined Benefit Plan Disclosure [Line Items]

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

A reconciliation of the change in fair value of the defined benefit plans’ assets using significant unobservable inputs (Level 3) for 2023 and 2022 is as follows (in millions):


	Total
Balance at December 31, 2021	$	9

Unrealized losses	(101)
Purchases, sales, settlements and other, net	286
Balance at December 31, 2022	194


Purchases, sales, settlements and other, net	(184)
Balance at December 31, 2023	$	10

Leases - Schedule Of Maturities Of Lease Liabilities (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Operating Leases
2024	$ 146
2025	116
2026	89
2027	68
2028	60
Thereafter	173
Total lease payments	652
Less: imputed interest	(84)
Present value of lease liabilities	$ 568

Employee Benefit and Retirement Plans - Composition of International Pension Plan Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
International
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 176	$ 354
International \| Equity securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	7	6
International \| Fixed income securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	10	11
International \| Alternative investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	159	337
Level 1 \| International
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	11	12
Level 1 \| International \| Equity securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	3	3
Level 1 \| International \| Fixed income securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	4	6
Level 1 \| International \| Alternative investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	4	3
Level 2 \| International
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	155	148
Level 2 \| International \| Equity securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	4	3
Level 2 \| International \| Fixed income securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	6	5
Level 2 \| International \| Alternative investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	145	140
Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	10	194	$ 9
Level 3 \| International
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	10	194
Level 3 \| International \| Equity securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| International \| Fixed income securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| International \| Alternative investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	10	194
Subtotal \| International
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	176	354
Subtotal \| International \| Equity securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	7	6
Subtotal \| International \| Fixed income securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	10	11
Subtotal \| International \| Alternative investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	159	337
NAV-based assets \| International
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
NAV-based assets \| International \| Equity securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
NAV-based assets \| International \| Fixed income securities and funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
NAV-based assets \| International \| Alternative investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 0	$ 0

Basis of Presentation and Significant Accounting Policies - Schedule of Supplier Finance Program (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Supplier Finance Program [Line Items]
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts payable
Supplier Finance Program
Supplier Finance Program, Obligation [Roll Forward]
Beginning balance	$ 100
Invoices posted	336
Invoices paid	(340)
Ending balance	$ 96

Segment Information - Summary of Disaggregation of Revenue by Major Product Grouping Source and Geography (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total revenue	$ 8,133	$ 9,459	$ 10,589
North America
Segment Reporting Information [Line Items]
Total revenue	5,442	6,519	7,365
International
Segment Reporting Information [Line Items]
Total revenue	2,691	2,940	3,224
Home and Commercial Solutions
Segment Reporting Information [Line Items]
Total revenue	4,428	5,194	6,077
Home and Commercial Solutions \| Commercial
Segment Reporting Information [Line Items]
Total revenue	1,434	1,582	1,558
Home and Commercial Solutions \| Kitchen
Segment Reporting Information [Line Items]
Total revenue	2,244	2,618	3,033
Home and Commercial Solutions \| Home Fragrance
Segment Reporting Information [Line Items]
Total revenue	750	885	1,091
Home and Commercial Solutions \| Connected Home and Security
Segment Reporting Information [Line Items]
Total revenue	0	109	395
Home and Commercial Solutions \| North America
Segment Reporting Information [Line Items]
Total revenue	2,942	3,625	4,319
Home and Commercial Solutions \| International
Segment Reporting Information [Line Items]
Total revenue	1,486	1,569	1,758
Learning and Development
Segment Reporting Information [Line Items]
Total revenue	2,706	2,950	3,028
Learning and Development \| Baby
Segment Reporting Information [Line Items]
Total revenue	989	1,197	1,265
Learning and Development \| Writing
Segment Reporting Information [Line Items]
Total revenue	1,717	1,753	1,763
Learning and Development \| North America
Segment Reporting Information [Line Items]
Total revenue	1,937	2,156	2,172
Learning and Development \| International
Segment Reporting Information [Line Items]
Total revenue	769	794	856
Outdoor and Recreation
Segment Reporting Information [Line Items]
Total revenue	999	1,315	1,484
Outdoor and Recreation \| North America
Segment Reporting Information [Line Items]
Total revenue	563	738	874
Outdoor and Recreation \| International
Segment Reporting Information [Line Items]
Total revenue	$ 436	$ 577	$ 610

Employee Benefit and Retirement Plans - Schedule of Reconciliation of Benefit Obligations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amounts recognized in the Consolidated Balance Sheets:
Accumulated benefit obligation	$ 1,000	$ 1,400
United States
Change in plan assets:
Fair value of plan assets at beginning of year	843
Fair value of plan assets at end of year	668	843
International
Change in plan assets:
Fair value of plan assets at beginning of year	354
Fair value of plan assets at end of year	176	354
Pension Benefits \| United States
Change in benefit obligation:
Benefit obligation at beginning of year	936	1,238
Service cost	0	0	$ 0
Interest cost	44	25	20
Actuarial gain	(24)	(247)
Currency translation	0	0
Benefits paid	(79)	(80)
Curtailments, settlements and other	(164)	0
Benefit obligation at end of year	713	936	1,238
Change in plan assets:
Fair value of plan assets at beginning of year	843	1,133
Actual return on plan assets	57	(220)
Contributions	11	10
Currency translation	0	0
Benefits paid	(79)	(80)
Settlements and other	(164)	0
Fair value of plan assets at end of year	668	843	1,133
Funded status at end of year	(45)	(93)
Amounts recognized in the Consolidated Balance Sheets:
Prepaid benefit cost, included in other assets	50	7
Accrued current benefit cost—other accrued liabilities	(11)	(11)
Accrued noncurrent benefit cost— other noncurrent liabilities	(84)	(89)
Net amount recognized	$ (45)	$ (93)
Discount rate	4.94%	5.20%
Long-term rate of compensation increase	3.00%	3.00%
Current health care cost trend rates	0.00%	0.00%
Ultimate health care cost trend rates	0.00%	0.00%
Pension Benefits \| International
Change in benefit obligation:
Benefit obligation at beginning of year	$ 417	$ 623
Service cost	3	4	4
Interest cost	15	8	6
Actuarial gain	(13)	(137)
Currency translation	14	(56)
Benefits paid	(20)	(23)
Curtailments, settlements and other	(172)	(2)
Benefit obligation at end of year	244	417	623
Change in plan assets:
Fair value of plan assets at beginning of year	354	595
Actual return on plan assets	(10)	(166)
Contributions	12	7
Currency translation	13	(57)
Benefits paid	(20)	(23)
Settlements and other	(173)	(2)
Fair value of plan assets at end of year	176	354	595
Funded status at end of year	(68)	(63)
Amounts recognized in the Consolidated Balance Sheets:
Prepaid benefit cost, included in other assets	23	23
Accrued current benefit cost—other accrued liabilities	(4)	(4)
Accrued noncurrent benefit cost— other noncurrent liabilities	(87)	(82)
Net amount recognized	$ (68)	$ (63)
Discount rate	3.82%	4.07%
Long-term rate of compensation increase	2.37%	2.41%
Current health care cost trend rates	0.00%	0.00%
Ultimate health care cost trend rates	0.00%	0.00%
Postretirement Benefits
Change in benefit obligation:
Benefit obligation at beginning of year	$ 30	$ 41
Service cost	0	0
Interest cost	1	1	1
Actuarial gain	(2)	(8)
Currency translation	0	0
Benefits paid	(3)	(4)
Curtailments, settlements and other	0	0
Benefit obligation at end of year	26	30	41
Change in plan assets:
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Contributions	3	4
Currency translation	0	0
Benefits paid	(3)	(4)
Settlements and other	0	0
Fair value of plan assets at end of year	0	0	$ 0
Funded status at end of year	(26)	(30)
Amounts recognized in the Consolidated Balance Sheets:
Prepaid benefit cost, included in other assets	0	0
Accrued current benefit cost—other accrued liabilities	(4)	(4)
Accrued noncurrent benefit cost— other noncurrent liabilities	(22)	(26)
Net amount recognized	$ (26)	$ (30)
Discount rate	4.84%	5.11%
Long-term rate of compensation increase	0.00%	0.00%
Current health care cost trend rates	5.87%	6.65%
Ultimate health care cost trend rates	4.50%	4.50%

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared on common stock (in USD per share)	$ 0.44	$ 0.92	$ 0.92

Restructuring - Schedule of Accrued Restructuring Costs Activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Reserve [Roll Forward]
Beginning balance	$ 7	$ 10
Restructuring Costs, Net	95	15	$ 16
Payments	(71)	(18)
Foreign Currency and Other	(1)
Ending balance	30	7	10
Severance and termination costs
Restructuring Reserve [Roll Forward]
Beginning balance	7	8
Restructuring Costs, Net	89	13
Payments	(66)	(14)
Foreign Currency and Other	0
Ending balance	30	7	8
Contract termination and other costs
Restructuring Reserve [Roll Forward]
Beginning balance	0	2
Restructuring Costs, Net	6	2
Payments	(5)	(4)
Foreign Currency and Other	(1)
Ending balance	$ 0	$ 0	$ 2

Derivatives and Foreign Currency Operations

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Foreign Currency Operations

Derivatives

Derivative financial instruments are generally used to manage certain interest rate and foreign currency risks. These instruments primarily include interest rate swaps, forward starting interest rate swaps and forward exchange contracts. The Company’s forward exchange contracts generally do not subject the Company to exchange rate risk because gains and losses on these instruments generally offset gains and losses on the assets, liabilities and other transactions being hedged. However, these instruments, when settled, impact the Company’s cash flows from operations to the extent the underlying transaction being hedged is not simultaneously settled due to an extension, a renewal or otherwise.

On the date when the Company enters into a derivative, the derivative is designated as a hedge of the identified exposure. The Company measures effectiveness of its hedging relationships both at hedge inception and on an ongoing basis.

Interest Rate Contracts

The Company manages its fixed and floating rate debt mix using interest rate swaps. The Company may use fixed and floating rate swaps to alter its exposure to the impact of changing interest rates on its consolidated results of operations and future cash outflows for interest. Floating rate swaps would be used, depending on market conditions, to convert the fixed rates of long-term debt into short-term variable rates. Fixed rate swaps would be used to reduce the Company’s risk of the possibility of increased interest costs. The settlement of interest rate swaps is included in interest expense.

Fair Value Hedges

At December 31, 2023, the Company had approximately $1.1 billion notional amount of interest rate swaps that exchange a fixed rate of interest for a variable rate of interest plus a weighted average spread. These floating rate swaps are designated as fair value hedges against $500 million of principal on the 6.375% senior notes due 2027, $500 million of principal on the 6.625% senior notes due 2029 and $100 million of principal on the 4.000% senior notes due 2024 for the remaining life of the notes. The benchmark interest rate for the $100 million floating swap and associated fair value hedge was amended for a change in benchmark interest rate from London Interbank Offered Rate (“LIBOR”) to Secured Overnight Financing Rate (“SOFR”), effective June 1, 2023, accounted for in accordance with ASC 848 (see Footnote 1 of the Notes to Consolidated Financial Statements for further information). The effective portion of the fair value gains or losses on these swaps is offset by fair value adjustments in the underlying debt.

Cross-Currency Contracts

The Company uses cross-currency swaps to hedge foreign currency risk on certain financing arrangements. The Company previously entered into three cross-currency swaps, maturing in January 2025, February 2025 and September 2027, respectively, with an aggregate notional amount of $1.3 billion. Each of these cross-currency swaps was designated as a net investment hedge of the Company’s foreign currency exposure of its net investment in certain Euro-functional currency subsidiaries with Euro-denominated net assets, and the Company pays a fixed rate of Euro-based interest and receives a fixed rate of U.S. dollar interest. During the third quarter of 2022, the Company entered into two additional cross-currency swaps with notional amounts of $500 million each, with one maturing in September 2027 and one in September 2029. These swaps were also designated as net investment hedges of the Company’s foreign currency exposure of its net investment in certain Euro-functional currency subsidiaries with Euro-denominated net assets, and the Company pays a floating rate of Euro-based interest and receives a floating rate of U.S. dollar interest. The Company has elected the spot method for assessing the effectiveness of these contracts. During the years ended December 31, 2023, 2022 and 2021, the Company recognized income of $38 million, $31 million and $16 million, respectively, in interest expense, net, related to the portion of cross-currency swaps excluded from hedge effectiveness testing.

Foreign Currency Contracts

The Company uses forward foreign currency contracts to mitigate the foreign currency exchange rate exposure on the cash flows related to forecasted inventory purchases and sales with maturity dates through December 2024. The derivatives used to hedge these forecasted transactions that meet the criteria for hedge accounting are accounted for as cash flow hedges. The effective portion of the gains or losses on these derivatives is deferred as a component of accumulated other comprehensive income (loss) (“AOCL”) until it is recognized in earnings at the same time that the hedged item affects earnings and is included in the same caption in the statements of operations as the underlying hedged item. At December 31, 2023, the Company had approximately $348 million

notional amount outstanding of forward foreign currency contracts that are designated as cash flow hedges of forecasted inventory purchases and sales.

The Company also uses foreign currency contracts, primarily forward foreign currency contracts, to mitigate the foreign currency exposure of certain other foreign currency transactions. At December 31, 2023, the Company had approximately $1.3 billion notional amount outstanding of these foreign currency contracts that are not designated as effective hedges for accounting purposes and have maturity dates through July 2024. Fair market value gains or losses are included in the results of operations and are classified in other (income) expense, net in the Company’s Consolidated Statement of Operations.

The following table presents the fair value of derivative financial instruments at December 31, (in millions):


		2023		2022
	Balance Sheet Location	Assets (Liabilities)
Derivatives designated as effective hedges:
Cash Flow Hedges
Foreign currency contracts	Prepaid expenses and other current assets	$	1	$	5
Foreign currency contracts	Other accrued liabilities	(13)		(9)
Fair Value Hedges

Interest rate swaps	Other accrued liabilities	(15)		(14)
Interest rate swaps	Other noncurrent liabilities	(4)		(16)
Net Investment Hedges
Cross-currency swaps	Prepaid expenses and other current assets	22		28
Cross-currency swaps	Other assets	15		45
Cross-currency swaps	Other noncurrent liabilities	(119)		(75)

Derivatives not designated as effective hedges:
Foreign currency contracts	Prepaid expenses and other current assets	7		19
Foreign currency contracts	Other accrued liabilities	(14)		(10)

Total		$	(120)	$	(27)

The Company recognized expense of $17 million, $13 million and income of $13 million in other (income) expense, net, during 2023, 2022 and 2021, respectively, related to derivatives that are not designated as hedging instruments. Gains and losses on these derivatives are generally offset by foreign currency movement in the underlying exposure.

The Company is not a party to any derivatives that require collateral to be posted prior to settlement.

The following table presents pretax gain and (loss) activity for 2023, 2022 and 2021 related to derivative financial instruments designated as effective hedges:


	2023				2022				2021
	Gain (Loss)				Gain (Loss)				Gain (Loss)
(in millions)	Recognized in OCL (1)		Reclassified from AOCL to Income		Recognized in OCL (1)		Reclassified from AOCL to Income		Recognized in OCL (1)		Reclassified from AOCL to Income
Interest rate swaps (2)	$	—	$	(5)	$	—	$	(6)	$	—	$	(6)
Foreign currency contracts (3)	(21)		—		24		27		14		(17)
Cross-currency swaps (4)	(80)		—		21		—		69		—
Total	$	(101)	$	(5)	$	45	$	21	$	83	$	(23)

(1)Represents effective portion recognized in Other Comprehensive Loss (“OCL”).

(2)Portion reclassified from AOCL to income recognized in interest expense, net.

(3)Portion reclassified from AOCL to income recognized in net sales and cost of products sold.

(4)Portion reclassified from AOCL to income recognized in other (income) expense, net.

At December 31, 2023, deferred net losses of approximately $13 million within AOCL are expected to be reclassified to earnings over the next twelve months.

Foreign Currency Operations

Assets and liabilities of foreign subsidiaries are translated into U.S. dollars at the rates of exchange in effect at year-end. The related translation adjustments are made directly to AOCL. Income and expenses are translated at the average monthly rates of exchange in effect during the year. Foreign currency transaction gains and losses are included in the results of operations and are generally classified in other (income) expense, net, in the Consolidated Statements of Operations. Foreign currency transaction net losses for 2023, 2022 and 2021 were $10 million, $41 million and $5 million, respectively.

The Company designates certain foreign currency denominated, long-term intercompany financing transactions as being of a long-term investment nature and records gains and losses on the transactions arising from changes in exchange rates as translation adjustments.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets:
Cash and cash equivalents	$ 332	$ 287
Accounts receivable, net	1,195	1,250
Inventories	1,531	2,203
Prepaid expenses and other current assets	296	312
Total current assets	3,354	4,052
Property, plant and equipment, net	1,212	1,184
Operating lease assets	515	578
Goodwill	3,071	3,298
Other intangible assets, net	2,488	2,649
Deferred income taxes	806	810
Other assets	717	691
Total assets	12,163	13,262
Liabilities:
Accounts payable	1,003	1,062
Accrued compensation	190	123
Other accrued liabilities	1,375	1,272
Short-term debt and current portion of long-term debt	329	621
Total current liabilities	2,897	3,078
Long-term debt	4,575	4,756
Deferred income taxes	241	520
Operating lease liabilities	446	512
Other noncurrent liabilities	892	877
Total liabilities	9,051	9,743
Commitments and contingencies (Footnote 18)
Stockholders' equity:
Preferred stock (10.0 authorized shares, $1.00 par value, no shares issued at December 31, 2023 and 2022)	0	0
Common stock (800.0 authorized shares, $1.00 par value, 439.6 shares and 438.6 shares issued at December 31, 2023 and 2022, respectively)	440	439
Treasury stock, at cost (25.3 and 25.0 shares at December 31, 2023 and 2022, respectively)	(627)	(623)
Additional paid-in capital	6,915	7,052
Retained deficit	(2,726)	(2,338)
Accumulated other comprehensive loss	(890)	(1,011)
Total stockholders' equity	3,112	3,519
Total liabilities and stockholders' equity	$ 12,163	$ 13,262

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment, Net

Property, plant and equipment, net, consisted of the following at December 31, (in millions):


	2023		2022
Land	$	75	$	76
Buildings and improvements	678		648
Machinery and equipment	2,517		2,349
	3,270		3,073
Less: Accumulated depreciation	(2,058)		(1,889)
	$	1,212	$	1,184

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Property, plant and equipment are stated at cost. Expenditures for maintenance and repairs are expensed as incurred. Depreciation expense is calculated principally on the straight-line basis. Useful lives determined by the Company are as follows: buildings and improvements (20 - 40 years) and machinery and equipment (3 - 15 years).

Property, plant and equipment, net, consisted of the following at December 31, (in millions):


	2023		2022
Land	$	75	$	76
Buildings and improvements	678		648
Machinery and equipment	2,517		2,349
	3,270		3,073
Less: Accumulated depreciation	(2,058)		(1,889)
	$	1,212	$	1,184

Depreciation expense was $225 million, $196 million and $205 million in 2023, 2022 and 2021, respectively.

Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Debt

The following is a summary of outstanding debt at December 31, (in millions):


	2023		2022

4.000% senior notes due 2024	$	198	$	196
4.875% senior notes due 2025	498		496
3.900% senior notes due 2025	47		47
4.200% senior notes due 2026	1,980		1,978
6.375% senior notes due 2027	488		483
6.625% senior notes due 2029	486		481
5.375% senior notes due 2036	417		417
5.500% senior notes due 2046	658		658
Revolving credit facility	131		225
Commercial paper	—		359
Receivables facility	—		35
Other debt	1		2
Total debt	4,904		5,377
Short-term debt and current portion of long-term debt	(329)		(621)
Long-term debt	$	4,575	$	4,756

Senior Notes

On August 21, 2023, Moody's Corporation (“Moody’s”) downgraded the Company’s debt ratings to “Ba2”. As a result of Moody’s downgrade, certain of the Company’s outstanding senior notes currently aggregating to approximately $3.1 billion (the “Coupon-Step Notes”) are subject to an interest rate adjustment of 25 basis points. The change to the interest rate due to the downgrade will increase the Company’s interest expense by approximately $8 million on an annualized basis (approximately $2 million in 2023).

On August 3, 2023, S&P Global Inc. (“S&P”) downgraded the Company’s debt ratings to “BB”. In March 2023, S&P had also downgraded the Company’s debt ratings to “BB+”. As a result of the S&P downgrades, the Company’s Coupon-Step Notes are subject to an aggregated interest rate adjustment of 50 basis points. The change to the interest rate due to the downgrade will increase the Company’s interest expense by approximately $15 million on an annualized basis (approximately $8 million in 2023). Furthermore, as a result of the March S&P downgrade, the Company’s ability to borrow from the commercial paper market on terms it deems acceptable or favorable was eliminated.

On February 9, 2024, Moody’s downgraded the Company’s senior unsecured debt rating to “Ba3”, subjecting the Coupon-Step Notes to an additional interest rate adjustment of 25 basis points. The change to the interest rate due to the downgrade will further increase the Company’s interest expense by approximately $8 million on an annualized basis (approximately $6 million in 2024).

On February 14, 2024, S&P downgraded the Company’s debt ratings to “BB-”, subjecting the Company’s Coupon-Step Notes to an additional interest rate adjustment of 25 basis points, which will increase interest expense by approximately $8 million on an annualized basis (approximately $6 million in 2024).

The S&P and Moody’s downgrades will increase the Company’s annual interest expense by approximately $39 million.

On February 14, 2023, Fitch Ratings downgraded the Company’s Long-Term Issuer Default Rating to “BB”, then to “B+” on November 1, 2023. These downgrades did not impact the interest rates on any of the Company’s senior notes.

Receivables Facility

The Company maintained an Accounts Receivable Securitization Facility (the “Securitization Facility”). The aggregate commitment under the Securitization Facility was $375 million. The Securitization Facility matured on October 2, 2023 and was terminated thereafter.

Revolving Credit Facility

As of December 31, 2023, the Company maintained a $1.5 billion Credit Revolver maturing in August 2027. On March 27, 2023, the Company entered into the First Amendment to (i) include non-cash expenses resulting from grants of stock awards among the items that may be added to Consolidated Net Income when calculating Consolidated Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), as defined in the First Amendment, and (ii) lower the Interest Coverage Ratio, as defined in the First Amendment, for the fiscal quarters ending on June 30, 2023, September 30, 2023, December 31, 2023 and March 31, 2024.

The Credit Revolver provides for the issuance of up to $150 million of letters of credit, so long as there is sufficient availability for borrowing under the Credit Revolver. At December 31, 2023, the Company had $131 million of outstanding borrowings under the Credit Revolver and approximately $20 million of outstanding standby letters of credit issued against the Credit Revolver, with a net availability of approximately $1.3 billion.

As disclosed in the Company’s Current report on Form 8-K filed with the SEC on February 9, 2024, the Company, certain of its subsidiaries, as subsidiary borrowers, and certain of its subsidiaries, as subsidiary guarantors, entered into the Second Amendment.

The Second Amendment, among other things, (i) reduces the commitments of the lenders from $1.5 billion to $1.0 billion, (ii) replaces the Company’s existing Total Indebtedness to Total Capitalization and Interest Coverage Ratio financial covenants with new financial covenants testing the Company’s Collateral Coverage Ratio and Total Net Leverage Ratio (each as defined in the Second Amendment), (iii) requires the Company and the Guarantors to guarantee all obligations under the Credit Revolver including, without limitation, obligations in respect of extensions of credit to any of the borrowers, certain hedging obligations, certain cash management obligations, and certain supply chain financing obligations, and (iv) requires the Company and the other Guarantors to grant a lien and security interest in certain of its assets consisting of eligible accounts receivable, eligible inventory, eligible equipment and eligible intellectual property, and all products and proceeds of the foregoing.

Future Debt Maturities

The Company’s debt maturities for the five years following December 31, 2023 and thereafter are as follows (in millions):


2024	2025	2026	2027	2028	Thereafter	Total
$332	$547	$1,985	$500	$2	$1,586	$4,952

Other

The indentures governing the Company’s senior notes contain usual and customary nonfinancial covenants. The Company’s borrowing arrangements other than the senior notes contain usual and customary nonfinancial covenants and certain financial covenants, including minimum interest coverage and maximum debt-to-total-capitalization ratios.

Weighted average interest rates for the years ended December 31, are as follows:


	2023	2022	2021
Total debt	5.2%	4.3%	4.7%
Short-term debt	6.9%	4.0%	0.9%

At December 31, 2023 and 2022, unamortized deferred debt issue costs were $24 million and $30 million, respectively. These costs are included in total debt and are being amortized over the respective terms of the underlying debt.

The fair values of the Company’s senior notes are based on quoted market prices and are as follows at December 31, (in millions):


	2023				2022
	Fair Value		Book Value		Fair Value		Book Value
Senior notes	$	4,633	$	4,772	$	4,511	$	4,756

The carrying amounts of all other significant debt approximates fair value.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and include the consolidated accounts of the Company and its majority-owned subsidiaries after elimination of intercompany transactions and balances. The preparation of these consolidated financial statements requires the use of certain estimates and assumptions by management in determining the Company’s assets, liabilities, sales and expenses, and related disclosures. Significant estimates in these Consolidated Financial Statements include restructuring charges, estimates of future cash flows associated with asset impairments, useful lives for depreciation and amortization, loss contingencies (including legal, environmental and product liability reserves), net realizable value of inventories, estimated contract revenue and related variable consideration, capitalized software costs, income taxes, uncertain tax provisions, tax valuation allowances, and pension and postretirement employee benefit liabilities and expenses. Actual results could differ from those estimates. Certain prior year amounts have been reclassified to conform to the current year presentation.
Use of Estimates and Risks	Use of Estimates and Risks Management’s application of U.S. GAAP in preparing the Company’s consolidated financial statements requires the pervasive use of estimates and assumptions. The Company continues to be impacted by inflationary pressures, soft global demand, focus by major retailers on the rebalancing of inventory levels, rising interest rates and indirect macroeconomic impacts from geopolitical conflicts. These collective macroeconomic trends, the duration or severity of which are highly uncertain, are rapidly changing the retail and consumer landscape and negatively impact the Company’s operating results, cash flows and financial condition in 2023 and are expected to persist into 2024. As consumers continue to face widespread increases in prices and interest rates, their discretionary spending and purchase patterns may continue to be unfavorably impacted. The high level of uncertainty of these factors has resulted in estimates and assumptions that have the potential for more variability and are more subjective. In addition, some of the other inherent estimates and assumptions used in the Company’s forecasted results of operations and cash flows that form the basis of the determination of the fair value of the reporting units for goodwill and indefinite-lived intangible asset impairment testing are outside the control of management, including interest rates, cost of capital, tax rates, industry growth, credit ratings, foreign exchange rates and labor inflation. Although management has made its best estimates and assumptions based upon current information, actual results could materially differ given the uncertainty of these factors and may require future changes to such estimates and assumptions, including reserves, which may result in future expense or impairment charges.
Concentration of Credit Risk	Concentration of Credit Risk The Company’s forward exchange contracts generally do not subject the Company to risk due to foreign exchange rate movement, because gains and losses on these instruments generally offset gains and losses on the assets, liabilities and other transactions being hedged. The Company is exposed to credit-related losses in the event of non-performance by counterparties to certain derivative financial instruments. The Company does not obtain collateral or other security to support derivative financial instruments subject to credit risk, but monitors the credit standing of its counterparties.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when performance obligations under the terms of a contract with the customer are satisfied or at a point in time, which generally occurs either on shipment or on delivery based on contractual terms, which is also when control is transferred. The Company’s primary performance obligation is the distribution and sales of its consumer and commercial products to its customers. In the normal course of business, the Company offers warranties for a variety of its products. The specific terms and conditions of the warranties vary depending upon the specific product and markets in which the products were sold. The Company accrues for the estimated cost of product warranty at the time of sale based on historical experience. Revenue is measured as the amount of consideration for which the Company expects to be entitled in exchange for transferring goods or providing services. Certain customers may receive cash and/or non-cash incentives such as cash discounts, returns, credits or reimbursements related to defective products, customer discounts (such as volume or trade discounts), cooperative advertising and other customer-related programs, which are accounted for as variable consideration. In some cases, the Company applies judgment, including contractual rates and historical payment trends, when estimating variable consideration. In addition, the Company participates in various programs and arrangements with customers designed to increase the sale of products by these customers. Among the programs negotiated are arrangements under which allowances are earned by customers for attaining agreed-upon sales levels or for participating in specific marketing programs. Coupon programs are also developed on a customer- and territory-specific basis. Under customer programs and arrangements that require sales incentives to be paid in advance, the Company amortizes the amount paid over the period of benefit or contractual sales volume. When incentives are paid in arrears, the Company accrues the estimated amount to be paid based on the program’s contractual terms, expected customer performance and/or estimated sales volume. These estimates are determined using historical customer experience and other factors, which sometimes require significant judgment. Due to the length of time necessary to obtain relevant data from customers, among other factors, actual amounts paid can differ from these estimates. Sales taxes and other similar taxes are excluded from revenue. The Company elected to account for shipping and handling activities as a fulfillment cost. The Company also elected not to disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed.
Goodwill and Indefinite-Lived Intangibles	Goodwill and Indefinite-Lived Intangibles Goodwill and indefinite-lived intangibles are tested and reviewed for impairment annually during the fourth quarter (on December 1), or more frequently if facts and circumstances warrant. Goodwill Goodwill is tested for impairment at a reporting unit level, and all of the Company’s goodwill is assigned to its reporting units. Reporting units are determined based upon the Company’s organizational structure in place at the date of the goodwill impairment testing and generally one level below the operating segment level. The Company’s operations are comprised of six reporting units, within its three primary operating segments. The Company may use a qualitative approach, and when appropriate, has bypassed the qualitative and used a quantitative approach, which involves comparing the fair value of each of the reporting units to the carrying value of those reporting units. If the carrying value of a reporting unit exceeds its fair value, an impairment loss would be calculated as the difference between these amounts, limited to the amount of reporting unit goodwill allocated to the reporting unit. The quantitative goodwill impairment testing requires significant use of judgment and assumptions, such as the identification of reporting units; the assignment of assets and liabilities to reporting units; and the estimation of future cash flows, business growth rates, terminal values, discount rates and total enterprise value. The income approach used is the discounted cash flow methodology and is based on five-year cash flow projections. The cash flows projected are analyzed on a debt-free basis (before cash payments to equity and interest-bearing debt investors) in order to develop an enterprise value from operations for the reporting unit. A provision is made, based on these projections, for the value of the reporting unit at the end of the forecast period, or terminal value. The present value of the finite-period cash flows and the terminal value are determined using a selected discount rate. Indefinite-lived intangibles The testing of indefinite-lived intangibles (primarily trademarks and tradenames) under established guidelines for impairment also requires significant use of judgment and assumptions (such as cash flow projections, royalty rates, terminal values and discount rates). An indefinite-lived intangible asset is impaired by the amount by which its carrying value exceeds its estimated fair value. For impairment testing purposes, the fair value of indefinite-lived intangibles is determined using either the relief from royalty method or the excess earnings method. The relief from royalty method estimates the value of a tradename by discounting the hypothetical avoided royalty payments to their present value over the economic life of the asset. The excess earnings method estimates the value of the intangible asset by quantifying the residual (or excess) cash flows generated by the asset and discounts those cash flows to the present. The excess earnings methodology requires the application of contributory asset charges. Contributory asset charges typically include assumed payments for the use of working capital, tangible assets and other intangible assets. Changes in forecasted operations and other assumptions could materially affect the estimated fair values. Changes in business conditions could potentially require adjustments to these asset valuations.
Other Long-Lived Assets	Other Long-Lived Assets The Company continuously evaluates whether impairment indicators related to its property, plant and equipment, operating leases and other long-lived assets are present. These impairment indicators may include a significant decrease in the market price of a long-lived asset or asset group, early termination of an operating lease, a significant adverse change to the extent or manner in which a long-lived asset or asset group is being used or in its physical condition, or a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group. If impairment indicators are present, the Company estimates the future cash flows for the asset or group of assets. The sum of the undiscounted future cash flows attributable to the asset or group of assets is compared to their carrying amount. The cash flows are estimated utilizing various assumptions regarding future sales and expenses, working capital and proceeds from asset disposals on a basis consistent with the Company’s forecasts. If the carrying amount exceeds the sum of the undiscounted future cash flows, the Company discounts the future cash flows using a discount rate required for a similar investment of like risk and records an impairment charge as the difference between the fair value and the carrying value of the asset group. The Company performs its testing of the asset group at the reporting unit level, as this is the lowest level for which identifiable cash flows are available, with the exception of the Yankee Candle business, where testing is performed at the retail store level.
Income Taxes	Income Taxes The Company accounts for deferred income taxes using the asset and liability approach. Under this approach, deferred income taxes are recognized based on the tax effects of temporary differences between the financial statement and tax bases of assets and liabilities, as measured by current enacted tax rates. Valuation allowances are recorded to reduce the deferred tax assets to an amount that will more likely than not be realized. The Company regularly reviews its deferred tax assets for recoverability considering historical profitability, projected future taxable income, the expected timing of the reversals of existing temporary differences and tax planning strategies. For uncertain tax positions, the Company applies the provisions of relevant authoritative guidance, which requires application of a “more likely than not” threshold to the recognition and derecognition of tax positions. The Company’s ongoing assessments of the more likely than not outcomes of tax authority examinations and related tax positions require significant judgment and can increase or decrease the Company’s effective tax rate, as well as impact operating results.
Sales of Accounts Receivable	Sales of Accounts Receivable Factored receivables at December 31, 2023 associated with the Company’s existing factoring agreement (the “Customer Receivables Purchase Agreement”) were approximately $240 million, a decrease of approximately $180 million from December 31, 2022. Transactions under this agreement are accounted for as sales of accounts receivable, and the receivables sold are removed from the Consolidated Balance Sheet at the time of the sales transaction. The Company classifies the proceeds received from the sales of accounts receivable as an operating cash flow and collections of accounts receivables not yet submitted to the financial institution as a financing cash flow in the Consolidated Statement of Cash Flows. The Company records the discount as other (income) expense, net in the Consolidated Statement of Operations. On October 2, 2023, the Company, through a wholly-owned special purpose entity (“SPE”) entered into a three-year agreement with a financial institution to sell up to $225 million, between February and April of each year and up to $275 million at all other times, of certain customer receivables without recourse on a revolving basis (the “New Receivables Facility”). Under the New Receivables Facility, certain of the Company’s subsidiaries continuously sell their accounts receivables, originated in the U.S., to the SPE and the SPE sells the receivables to the financial institution. The SPE is a variable interest entity for which the Company is considered to be the primary beneficiary. The SPE’s sole business consists of the purchase of receivables from certain subsidiaries of the Company and the subsequent transfer of such receivables to the financial institution. Although the SPE is included in the Company’s consolidated financial statements, it is a separate legal entity with separate creditors. The assets of the SPE are not available to pay creditors of the Company or its subsidiaries. The fair value of these servicing arrangements as well as the fees earned was immaterial. The Company accounts for receivables sold from the SPE to the financial institution as a sale of financial assets and derecognizes the trade receivables from the Company’s Consolidated Balance Sheet. The balance of outstanding accounts receivables sold to the financial institution as of December 31, 2023 was $45 million. Cash received under the New Receivables Facility is included in cash from operating activities in the Consolidated Statements of Cash Flows.
Supplier Finance Program Obligations	Supplier Finance Program Obligations The Company has worked with its suppliers of goods and services over the past several years to revisit terms and conditions, including the extension of payment terms. Additionally, a global financial institution offers a voluntary supply chain finance program (the “SCF Program”) which enables suppliers, at their sole discretion, to sell their receivables from the Company to the financial institution on a non-recourse basis. The Company and its suppliers agree on contractual terms for the goods and services procured, including prices, quantities and payment terms, regardless of whether the supplier elects to participate in the SCF Program. Payments terms average approximately 126 days. The suppliers sell goods or services, as applicable, to the Company and issue the associated invoices to the Company based on the agreed-upon contractual terms. Suppliers that participate in the SCF Program, at their sole discretion, determine which invoices, if any, they want to sell to the financial institution. The suppliers’ voluntary inclusion of invoices in the SCF Program does not change the Company’s existing contractual terms with its suppliers. The Company does not provide any guarantees under the SCF Program, nor does it have any economic interest in a supplier’s decision to participate in the SCF Program as of December 31, 2023.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents include cash on hand and highly liquid investments that have a maturity of three months or less when purchased. Restricted cash reflects cash received on previously sold customer receivables in connection with the factoring programs that are required to be remitted to a financial institution. Restricted cash is reported as prepaid expenses and other current assets on the Consolidated Balance Sheets.
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable, net, include amounts billed and due from customers. Payment terms vary but generally are 90 days or less. An allowance for expected credit losses is based on the amount ultimately expected to be collected from the customer. The Company evaluates the collectability of accounts receivable based on a combination of factors including the length of time the receivables are past due, historical collection experience, current market conditions and forecasted direction of economic and business environment. Accounts deemed uncollectible are written off, net of expected recoveries.
Capitalized Software Costs	Capitalized Software Costs The Company capitalizes costs associated with internal-use software during the application development stage after both the preliminary project stage has been completed and the Company’s management has authorized and committed to funding for further project development. Capitalized internal-use software costs include: (i) external direct costs of materials and services consumed in developing or obtaining the software; (ii) payroll and payroll-related costs for employees who are directly associated with and who devote time directly to the project; and (iii) interest costs incurred while developing the software. Capitalization of these costs ceases no later than the point at which the project is substantially complete and ready for its intended purpose. The Company expenses as incurred research and development, general and administrative, and indirect costs associated with internal-use software. In addition, the Company expenses as incurred training, maintenance and other internal-use software costs incurred during the post-implementation stage. Costs associated with upgrades and enhancements of internal-use software are capitalized only if such modifications result in additional functionality of the software. The Company amortizes internal-use software costs using the straight-line method over the estimated useful life of the software. Capitalized software costs are evaluated annually for indicators of impairment, including but not limited to a significant change in available technology or the manner in which the software is being used. Impaired items are written down to their estimated fair values. Capitalized implementation costs for certain qualified Software-as-a-Service (“SaaS”) arrangements are also subject to the same accounting criteria described above, when the Company does not own the intellectual property for the software license used in the arrangement. SaaS arrangements are included in prepaid expenses and other current assets and other assets in the Consolidated Balance Sheets. The straight-line amortization of these costs is presented along with the fees related to the hosted cloud computing service in the Consolidated Statements of Operations.
Product Liability Reserves	Product Liability Reserves The Company has a self-insurance program for product liability that includes reserves for self-retained losses and certain excess and aggregate risk transfer insurance. The Company uses historical loss experience combined with actuarial evaluation methods, review of significant individual files and the application of risk transfer programs in determining required product liability reserves. The Company’s actuarial evaluation methods take into account claims incurred but not reported when determining the Company’s product liability reserve. While the Company believes that it has adequately reserved for these claims, the ultimate outcome of these matters may exceed the amounts recorded by the Company, and such additional losses may be material to the Company’s Consolidated Financial Statements.
Product Warranties	Product Warranties In the normal course of business, the Company offers warranties for a variety of its products. The specific terms and conditions of the warranties vary depending upon the specific product and markets in which the products were sold. The Company accrues for the estimated cost of product warranty at the time of sale based on historical experience.
Advertising Costs	Advertising Costs The Company expenses production costs of print, radio, television and other advertisements as of the first date the advertisements take place, and the Company expenses all other advertising and marketing costs when incurred.
Research and Development Costs	Research and Development Costs Research and development costs relating to both future and current products are charged to SG&A as incurred.
Recent Accounting Pronouncements and Adoption of New Accounting Guidance	Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in this update require that a public entity disclose on an annual and interim basis significant segment expenses that are regularly provided to the CODM, amount for other segment items by reportable segment and a description of its composition, segment profit and loss and assets, additional measures of segment profit used by the CODM in assessing segment performance and the title and position of the CODM, as well as an explanation of how the CODM uses the reported measures in assessing segment performance and deciding allocation of resources. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company does not expect the adoption of ASU 2023-07 to have a material impact on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The standard requires all entities subject to income taxes to disclose disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The new requirement will be effective for annual periods beginning after December 15, 2024. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company does not expect the adoption of ASU 2023-09 to have a material impact on the consolidated financial statements. Adoption of New Accounting Guidance In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” In January 2021, the FASB clarified the scope of this guidance with the issuance of ASU 2021-01, Reference Rate Reform: Scope. ASU 2020-04 provides optional expedients and exceptions to account for contracts, hedging relationships and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate if certain criteria are met. This ASU was further updated with the issuance of ASU 2022-06, Reference Rate Reform: Deferral of the Sunset Date of Topic 848, which extends the sunset date of the guidance. ASU 2020-04 may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2024. The Company adopted ASU 2020-04 and it did not have a material impact on its consolidated financial statements. In October 2022, the FASB issued ASU 2022-04, “Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” This ASU requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to better consider the effect of the programs on an entity’s working capital, liquidity and cash flows. This ASU is effective for fiscal years beginning after December 15, 2022, except for the amendment on roll forward information which is effective for fiscal years beginning after December 15, 2023. The Company adopted ASU 2022-04 and it did not have a material impact on its consolidated financial statements. See preceding disclosure for further information.
Restructuring	The Company has engaged and expects to continue to engage in restructuring activities, which requires management to utilize significant estimates related to the timing and amount of severance and other employee separation costs for workforce reductions and other separation programs and other exit costs associated with restructuring activities. The Company’s accrual for severance and other employee separation costs depends on whether the costs result from an ongoing severance plan or are one-time costs. The Company accounts for relevant expenses as severance costs when we have an established severance policy, statutory requirements dictate the severance amounts, or if our historical experience is to routinely provide certain benefits to impacted employees. The Company recognizes severance costs when it is probable that benefits will be paid and the amount can be reasonably estimated. The Company estimates one-time severance and other employee costs related to exit and disposal activities not resulting from an ongoing severance plan based on the benefits available to the employees being terminated. The Company recognizes these costs when we identify the specific classification or functions of the employees being terminated, notify the employees who might be included in the termination, and expect to terminate employees within the legally required notification period. When employees are receiving incentives to stay beyond the legally required notification period, we record the cost of their severance over the remaining service period.
Inventories	Inventories are stated at the lower of cost or net realizable value. The Company reduces its inventory value for estimated obsolete and slow-moving inventory in an amount equal to the difference between the cost of inventory and the net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, additional inventory write-downs may be required. Inventory costs include direct materials, direct labor and manufacturing overhead, or when finished goods are sourced, the cost is the amount paid to the third party.
Property, Plant and Equipment, Net	Property, plant and equipment are stated at cost. Expenditures for maintenance and repairs are expensed as incurred. Depreciation expense is calculated principally on the straight-line basis. Useful lives determined by the Company are as follows: buildings and improvements (20 - 40 years) and machinery and equipment (3 - 15 years).
Derivative and Interest Rate Contracts	Derivatives Derivative financial instruments are generally used to manage certain interest rate and foreign currency risks. These instruments primarily include interest rate swaps, forward starting interest rate swaps and forward exchange contracts. The Company’s forward exchange contracts generally do not subject the Company to exchange rate risk because gains and losses on these instruments generally offset gains and losses on the assets, liabilities and other transactions being hedged. However, these instruments, when settled, impact the Company’s cash flows from operations to the extent the underlying transaction being hedged is not simultaneously settled due to an extension, a renewal or otherwise. On the date when the Company enters into a derivative, the derivative is designated as a hedge of the identified exposure. The Company measures effectiveness of its hedging relationships both at hedge inception and on an ongoing basis. Interest Rate Contracts The Company manages its fixed and floating rate debt mix using interest rate swaps. The Company may use fixed and floating rate swaps to alter its exposure to the impact of changing interest rates on its consolidated results of operations and future cash outflows for interest. Floating rate swaps would be used, depending on market conditions, to convert the fixed rates of long-term debt into short-term variable rates. Fixed rate swaps would be used to reduce the Company’s risk of the possibility of increased interest costs. The settlement of interest rate swaps is included in interest expense.
Foreign Currency Operations	Foreign Currency Operations Assets and liabilities of foreign subsidiaries are translated into U.S. dollars at the rates of exchange in effect at year-end. The related translation adjustments are made directly to AOCL. Income and expenses are translated at the average monthly rates of exchange in effect during the year. Foreign currency transaction gains and losses are included in the results of operations and are generally classified in other (income) expense, net, in the Consolidated Statements of Operations. The Company designates certain foreign currency denominated, long-term intercompany financing transactions as being of a long-term investment nature and records gains and losses on the transactions arising from changes in exchange rates as translation adjustments.
Pensions and Postretirement Benefits	The Company and its subsidiaries have noncontributory pension, profit sharing and contributory 401(k) plans covering substantially all of their international and domestic employees. Pension plan benefits are generally based on years of service and/or compensation. The Company’s funding policy is to contribute not less than the minimum amounts required by the Employee Retirement Income Security Act of 1974, as amended, the Internal Revenue Code of 1986, as amended, or foreign statutes to ensure that plan assets will be adequate to provide retirement benefits. The funded status of the Company’s defined benefit pension plans and postretirement benefit plans is recognized in the Consolidated Balance Sheets. The funded status is measured as the difference between the fair value of plan assets and the benefit obligation at December 31, the measurement date. For defined benefit pension and postretirement benefit plans, the benefit obligation is the projected benefit obligation (“PBO”), which represents the actuarial present value of benefits expected to be paid upon retirement based on employee services already rendered and estimated future compensation levels. The fair value of plan assets represents the current market value of assets held for the sole benefit of participants. Over funded plans, with the fair value of plan assets exceeding the benefit obligation, are aggregated and recorded as a prepaid pension asset equal to this excess. Underfunded plans, with the benefit obligation exceeding the fair value of plan assets, are aggregated and recorded as a retirement and postretirement benefit obligation equal to this excess. The current portion of the retirement and postretirement benefit obligations represents the actuarial present value of benefits payable in the next 12 months exceeding the fair value of plan assets, measured on a plan-by-plan basis. This obligation is recorded in other accrued liabilities in the Consolidated Balance Sheets. Net periodic pension and postretirement benefit cost/(income) is recorded in the Consolidated Statements of Operations and includes service cost, interest cost, expected return on plan assets, amortization of prior service costs/(credits) and (gains)/losses previously recognized as a component of AOCL and amortization of the net transition asset remaining in AOCL. The service cost component of net benefit cost is recorded in cost of products sold and SG&A in the Consolidated Statements of Operations (unless eligible for capitalization) based on the employees’ respective functions. The other components of net benefit cost are presented separately from service cost within other (income) expense, net in the Consolidated Income Statement. (Gains)/losses and prior service costs/(credits) are recognized as a component of OCL in the Consolidated Statements of Comprehensive Income (Loss) as they arise. Those (gains)/losses and prior service costs/(credits) are subsequently recognized as a component of net periodic cost/(income) pursuant to the recognition and amortization provisions of applicable accounting guidance. (Gains)/losses arise as a result of differences between actual experience and assumptions or as a result of changes in actuarial assumptions. Prior service costs/(credits) represent the cost of benefit changes attributable to prior service granted in plan amendments. The measurement of benefit obligations and net periodic cost/(income) is based on estimates and assumptions approved by the Company’s management. These valuations reflect the terms of the plans and use participant-specific information such as compensation, age and years of service, as well as certain assumptions, including estimates of discount rates, expected return on plan assets, rate of compensation increases, interest crediting rates and mortality rates.
Leases	The Company recognizes a right of use (“ROU”) asset and a liability for all leases whose term is more than 12 months at the lease inception date. ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term, which includes any extension the Company reasonably expects to exercise. The Company assesses whether certain service arrangements contain embedded leases where the contract conveys the right to use an asset but is not explicitly identified as a lease arrangement; examples include information technology, third-party logistics and original equipment manufacturers. The Company uses incremental borrowing rates, updated quarterly, that reflect its own external unsecured borrowing rates that are risk-adjusted to approximate secured borrowing rates over similar terms. For certain non-real estate leases, the portfolio approach is used. The Company also has lease agreements with lease and non-lease components, which are accounted for as a single lease component. Operating lease expense is recognized on a straight-line basis over the lease term. Operating lease assets and operating lease liabilities are reported as separate lines in the Consolidated Balance Sheets. The current portion of operating lease liabilities is reported in other accrued liabilities in the Consolidated Balance Sheets. For finance leases, lease payments are allocated between interest expense and reduction of the liability in accordance with an amortization schedule. The corresponding asset is amortized on a straight-line basis over the lease term. Assets acquired under finance leases are reported in property, plant and equipment, net in the Consolidated Balance Sheets. The depreciable life of leasehold improvements and other lease-related assets are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise.
Share-Based Compensation	Stock-based compensation expense is adjusted for estimated forfeitures and is recognized on a straight-line basis over the requisite service period of the award, which is generally three years for stock options and one to three years for time-based and performance-based restricted stock units. The Company estimates future forfeiture rates based on its historical experience.
Fair Value Measurement	Accounting principles generally accepted in the U.S. define fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). These valuation techniques are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. As the basis for evaluating such inputs, a three-tier value hierarchy prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets. Level 2: Observable inputs other than quoted prices that are directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets; quoted prices for similar or identical assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions.

Employee Benefit and Retirement Plans - Schedule of Estimated Future Benefit Payments Under Defined Benefit Pension Plans and Postretirement Benefit Plans (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2024	$ 79
2025	76
2026	75
2027	77
2028	75
Thereafter	357
Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2024	4
2025	4
2026	4
2027	3
2028	3
Thereafter	$ 9

Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

Effective January 1, 2023, as a result of the implementation of a new operating model intended to drive further simplification and unlock additional efficiencies and synergies within the Company, the CODM now reviews the businesses as three operating segments: Home and Commercial Solutions, Learning and Development and Outdoor and Recreation. The Home and Commercial Solutions operating segment represents the combination of the previously reported Commercial Solutions, Home Appliances and Home Solutions operating segments. Prior period comparable results have been reclassified to conform to the operating segment change.

On March 31, 2022, the Company sold its CH&S business unit to Resideo Technologies, Inc. The results of operations for CH&S continued to be reported in the Consolidated Statements of Operations as part of the Home and Commercial Solutions segment through March 31, 2022.

The Company’s three primary operating segments are as follows:

Segment

Key Brands

Description of Primary Products

Home and Commercial Solutions

Ball(1), Calphalon, Crockpot, FoodSaver, Mapa, Mr. Coffee, Oster, Rubbermaid, Rubbermaid Commercial Products, Sistema, Spontex, Sunbeam, WoodWick and Yankee Candle

Commercial cleaning and maintenance solutions; closet and garage organization; hygiene systems and material handling solutions; household products, including kitchen appliances; food and home storage products; fresh preserving products; vacuum sealing products; gourmet cookware, bakeware and cutlery and home fragrance products

Learning and Development

Dymo, Elmer’s, EXPO, Graco, NUK, Paper Mate, Parker and Sharpie

Baby gear and infant care products; writing instruments, including markers and highlighters, pens and pencils; art products; activity-based products and labeling solutions

Outdoor and Recreation

Campingaz, Coleman, Contigo and Marmot

Active lifestyle products for outdoor and outdoor-related activities; technical apparel and on-the-go beverageware

(1)

and Ball®, TM of Ball Corporation, used under license.

This structure reflects the manner in which the CODM regularly assesses information for decision-making purposes, including the allocation of resources. The Company also provides general corporate services to its segments which is reported as a non-operating segment, Corporate.

The Company’s segment and geographic results are as follows at and for the years ended December 31, (in millions):


	2023		2022		2021
Net sales (1)
Home and Commercial Solutions (3)	$	4,428	$	5,194	$	6,077
Learning and Development	2,706		2,950		3,028
Outdoor and Recreation	999		1,315		1,484
	$	8,133	$	9,459	$	10,589


	2023		2022		2021
Operating income (loss) (2)
Home and Commercial Solutions (3)	$	37	$	(212)	$	566
Learning and Development	213		593		600
Outdoor and Recreation	(83)		86		90
Corporate	(252)		(155)		(243)
	$	(85)	$	312	$	1,013


	2023		2022		2021
Depreciation and amortization
Home and Commercial Solutions (3)	$	163	$	145	$	169
Learning and Development	71		60		57
Outdoor and Recreation	35		34		35
Corporate	65		57		64
	$	334	$	296	$	325


	2023		2022		2021
Impairment of goodwill and intangible assets
Home and Commercial Solutions (3)	$	76	$	444	$	29
Learning and Development	241		30		31
Outdoor and Recreation	22		—		—

	$	339	$	474	$	60


	2023		2022		2021
Capital expenditures
Home and Commercial Solutions (3)	$	93	$	107	$	131
Learning and Development	60		70		73
Outdoor and Recreation	16		21		24
Corporate	115		114		61
	$	284	$	312	$	289


	December 31, 2023		December 31, 2022
Segment assets
Home and Commercial Solutions	$	4,713	$	5,243
Learning and Development	4,111		4,494
Outdoor and Recreation	687		920
Corporate	2,652		2,605
	$	12,163	$	13,262


Geographic area information
	2023		2022		2021
Net Sales (1) (4)
United States	$	5,129	$	6,144	$	6,921
Canada	313		375		444
Total North America	5,442		6,519		7,365
Europe, Middle East and Africa	1,283		1,408		1,647
Latin America	863		837		810
Asia Pacific	545		695		767
Total International	2,691		2,940		3,224
	$	8,133	$	9,459	$	10,589

(1)All intercompany transactions have been eliminated.

(2)Operating income (loss) by segment is net sales less cost of products sold, SG&A, restructuring and impairment of goodwill, intangibles and other assets. Certain headquarters expenses of an operational nature are allocated to business segments primarily on a net sales basis. Corporate depreciation and amortization is allocated to the segments on a percentage of sales basis, and the allocated depreciation and amortization are included in segment operating income (loss).

(3)Home and Commercial Solutions net sales, operating income, depreciation and amortization, capital expenditures and segment assets exclude the CH&S business as a result of the sale of this business starting from the end of the first quarter of 2022.

(4)Geographic sales information is based on the region from which the products are shipped and invoiced. Long-lived assets by geography are not presented because it is impracticable to do so.

The Company’s largest customer, Walmart Inc. and subsidiaries (“Walmart”), accounted for approximately 15.0%, 14.0% and 15.0% of net sales in 2023, 2022 and 2021, respectively. Amazon, the Company’s second largest customer, accounted for approximately 13.0% of net sales in each of 2023, 2022 and 2021.

The following table disaggregates revenue by major product grouping source and geography for the years ended December 31, (in millions):


		2023		2022		2021
	Commercial	$	1,434	$	1,582	$	1,558
	Kitchen	2,244		2,618		3,033
	Home Fragrance	750		885		1,091
	Connected Home and Security	—		109		395
Home and Commercial Solutions		4,428		5,194		6,077

	Baby	989		1,197		1,265
	Writing	1,717		1,753		1,763
Learning and Development		2,706		2,950		3,028

Outdoor and Recreation		999		1,315		1,484

		$	8,133	$	9,459	$	10,589

North America
	Home and Commercial Solutions	$	2,942	$	3,625	$	4,319
	Learning and Development	1,937		2,156		2,172
	Outdoor and Recreation	563		738		874
		$	5,442	$	6,519	$	7,365

International
	Home and Commercial Solutions	$	1,486	$	1,569	$	1,758
	Learning and Development	769		794		856
	Outdoor and Recreation	436		577		610
		$	2,691	$	2,940	$	3,224

TOTAL
	Home and Commercial Solutions	$	4,428	$	5,194	$	6,077
	Learning and Development	2,706		2,950		3,028
	Outdoor and Recreation	999		1,315		1,484
		$	8,133	$	9,459	$	10,589

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 31
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

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-Topic 280
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-Paragraph 32
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

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-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

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-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

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-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

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-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

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-Topic 280
-SubTopic 10
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-Paragraph 41
-Publisher FASB
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 21
-Subparagraph (a)
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
-Publisher FASB
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Leases - Schedule of Consolidated Balance Sheet Related To Leases (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets
Operating leases	$ 515	$ 578
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net	Property, plant and equipment, net
Finance leases	$ 0	$ 2
Total lease assets	515	580
Current
Operating leases	$ 122	$ 121
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other accrued liabilities	Other accrued liabilities
Finance leases	$ 0	$ 1
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Short-term debt and current portion of long-term debt	Short-term debt and current portion of long-term debt
Noncurrent
Operating leases	$ 446	$ 512
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt	Long-term debt
Finance leases	$ 0	$ 1
Total lease liabilities	568	635
Accumulated amortization	$ 4	$ 18

Accumulated Other Comprehensive Income (Loss) - Schedule of Income Tax Provision (Benefit) Allocated to Components of OCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax provision (benefit) related to AOCL	$ 12	$ (7)	$ 49
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax provision (benefit) related to AOCL	(20)	2	20
Pension and Postretirement Cost
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax provision (benefit) related to AOCL	36	(10)	20
Derivative Financial Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax provision (benefit) related to AOCL	$ (4)	$ 1	$ 9

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482659/740-20-45-2

+ Details

Weighted Average Shares Outstanding (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Computations of Weighted Average Shares Outstanding

The computations of the weighted average shares outstanding for the years ended December 31, are as follows (in millions):


	2023	2022	2021


Basic weighted-average shares outstanding	414.1	415.7	425.3
Dilutive securities (1)	—	1.7	2.7
Diluted weighted-average shares outstanding	414.1	417.4	428.0

(1)For 2023, 1.5 million potentially dilutive share-based awards were excluded as their effect would be anti-dilutive.

Other Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Schedule of Other Accrued Liabilities

Other accrued liabilities included the following at December 31, (in millions):


	2023		2022
Customer accruals	$	659	$	636
Operating lease liabilities	122		121
Accrued self-insurance liabilities, contingencies and warranty	92		99
Accrued income taxes	89		53
Accrued interest expense	74		63
Accrued marketing and freight expenses	71		73
Other	268		227
	$	1,375	$	1,272

Share-Based Compensation - Summary of Changes In Stock Options (Detail) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Shares
Shares outstanding, beginning balance (in shares) \| shares	6.5
Granted (in shares) \| shares	0.5
Exercised (in shares) \| shares	0.0
Forfeited (in shares) \| shares	(0.4)
Shares outstanding, ending balance (in shares) \| shares	6.6
Options exercisable, end of year (in shares) \| shares	4.2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, beginning balance (in USD per share) \| $ / shares	$ 23
Weighted-average exercise price, granted (in USD per share) \| $ / shares	13
Weighted-average exercise price, exercised (in USD per share) \| $ / shares	0
Weighted-average exercise price, forfeited (in USD per share) \| $ / shares	24
Weighted average exercise price, ending balance (in USD per share) \| $ / shares	22
Weighted average exercise price, options exercisable, end of year (in USD per share) \| $ / shares	$ 21
Weighted average remaining life, outstanding (years)	6 years 10 months 24 days
Weighted average remaining life, exercisable (years)	6 years 4 months 24 days
Aggregate intrinsic value, outstanding \| $	$ 0.0
Aggregate intrinsic value, exercisable \| $	$ 0.0

Accumulated Other Comprehensive Income (Loss) - Reclassifications from AOCL to Results of Operations (Details) - Reclassification out of accumulated other comprehensive income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cumulative translation adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pretax (income) expense	$ 11	$ 6	$ 0
Pension and postretirement benefit plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pretax (income) expense	130	13	23
Derivative financial instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pretax (income) expense	$ 5	$ (21)	$ 23

Litigation and Contingencies	12 Months Ended
Litigation and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Litigation and Contingencies	Litigation and Contingencies The Company is subject to various claims and lawsuits in the ordinary course of business, including from time to time, contractual disputes, employment and environmental matters, product and general liability claims, claims that the Company has infringed on the intellectual property rights of others, and consumer and employment class actions. Some of the legal proceedings include claims for punitive as well as compensatory damages. In the ordinary course of business, the Company is also subject to legislative requests, regulatory and governmental examinations, information requests and subpoenas, inquiries, investigations, and threatened legal actions and proceedings. In connection with such formal and informal inquiries, the Company receives numerous requests, subpoenas, and orders for documents, testimony and information in connection with various aspects of its activities. The Company previously disclosed that it had received a subpoena and related informal document requests from the SEC primarily relating to its sales practices and certain accounting matters. The Company cooperated with the SEC in connection with its investigation and requests for documents, testimony and information. Since January 2023, the Company had been discussing with the SEC the possibility of reaching a settlement to resolve the investigation, which related to the time period between third quarter of fiscal year 2016 and second quarter of fiscal year 2017. On September 29, 2023, the Company entered into a settlement with the SEC, which concluded the investigation of the Company. Under the terms of the settlement, the Company neither admitted nor denied the SEC's findings and agreed to pay a civil penalty of approximately $13 million, which did not have a material effect on the Company’s Consolidated Financial Statements. Further, on June 30, 2021, the Company received a subpoena from the SEC requesting the production of documents related to its disclosure of the potential impact of the U.S. Treasury and the IRS’s temporary regulations under IRC Section 245A, as enacted by the 2017 U.S. Tax Reform Legislation and IRC Section 954(c)(6) (the “Temporary Regulations”), as well as the August 21, 2020 finalized versions of the Temporary Regulations. Securities Litigation The Company and certain of its current and former officers and directors were named as defendants in a securities class action lawsuit filed in the Superior Court of New Jersey, Hudson County, on behalf of all persons who acquired Company common stock pursuant to the S-4 registration statement and prospectus issued in connection with the April 2016 acquisition of Jarden Corporation (the “Registration Statement”). The action was filed on September 6, 2018 and was captioned Oklahoma Firefighters Pension and Retirement System v. Newell Brands Inc., et al., Civil Action No. HUD-L-003492-18 (“Oklahoma Firefighters”). In October 2022, the Company entered into a settlement agreement to resolve the claims asserted in this lawsuit. Under the settlement, the Company agreed to create a settlement fund of approximately $103 million for the benefit of the class, subject to certain exclusions, which was predominantly funded by insurance proceeds. Both the settlement and the insurance receivable were recorded during the third quarter of 2022. The amount not funded by available insurance proceeds, which is not material to the Company, was expensed during the third quarter of 2022. In the fourth quarter of 2022, the Court granted the plaintiff's motion for preliminary approval of the settlement, and the Company and its insurers paid the required amount into the settlement fund. On February 10, 2023, the Court granted the plaintiff's motion for final approval of settlement. The deadline to appeal the order granting final approval of the settlement has expired and the settlement is final. Certain of the Company’s current and former officers and directors were named in shareholder derivative lawsuits. On October 29, 2018, a shareholder filed a putative derivative complaint, Streicher v. Polk, et al., in the United States District Court for the District of Delaware (the “Streicher Derivative Action”), purportedly on behalf of the Company against certain of the Company’s current and former officers and directors. On October 30, 2018, another shareholder filed a putative derivative complaint, Martindale v. Polk, et al., in the United States District Court for the District of Delaware (the “Martindale Derivative Action”), asserting substantially similar claims purportedly on behalf of the Company against the same defendants. The complaints allege, among other things, violations of the federal securities laws, breaches of fiduciary duties, unjust enrichment, and waste of corporate assets. The factual allegations underlying these claims are similar to the factual allegations made in the In re Newell Brands, Inc. Securities Litigation that was previously pending in the United States District Court for the District of New Jersey. That matter was dismissed by the District Court on January 10, 2020, and the dismissal was affirmed by the United States District Court of Appeals for the Third Circuit on December 1, 2020. The Streicher Derivative Action and the Martindale Derivative Action were consolidated into a case known as In re Newell Brands Inc. Derivative Litigation (the “Newell Brands Derivative Action”), which is pending in the United States District Court for the District of Delaware. On December 30, 2020, two shareholders filed a putative derivative complaint, Weber, et al. v. Polk, et al., also in the United States District Court for the District of Delaware (the “Weber Derivative Action”), purportedly on behalf of the Company against certain of the Company’s current and former officers and directors. The complaint in the Weber Derivative Action alleged, among other things, breaches of fiduciary duty and waste of corporate assets. The factual allegations underlying these claims are similar to the factual allegations made in the Newell Brands Derivative Action. These derivative complaints sought damages and restitution for the Company from the individual defendants, the payment of costs and attorneys’ fees, and that the Company be directed to reform certain governance and internal procedures. The United States District Court for the District of Delaware stayed the Newell Brands Derivative Action and the Weber Derivative Action. On January 31, 2023, Plaintiff Streicher voluntarily dismissed herself from the Newell Brands Derivative Action without prejudice. On September 5, 2023, the Newell Brands Derivative Action and the Weber Derivative Action were dismissed with prejudice. On May 26, 2023, Plaintiff Streicher filed a new putative derivative complaint, Streicher v. Polk, et al., in the Superior Court of New Jersey, Law Division: Hudson County (the “New Jersey Derivative Action” and, collectively with the Newell Brands Derivative Action and the Weber Derivative Action, the “Derivative Actions”), purportedly on behalf of the Company against certain of the Company’s current and former officers and directors. The complaint in the New Jersey Derivative Action alleged breaches of fiduciary duty. The factual allegations underlying these claims were similar to the factual allegations made in the Newell Brands Derivative Action and the Weber Derivative Action. On June 7, 2023, Plaintiff Streicher filed a Stipulation of Settlement (the “Stipulation”) and Motion for Preliminary Approval of Settlement in the New Jersey Derivative Action. The proposed settlement as set forth in the Stipulation provided for, among other things, a full release of the claims that the plaintiffs or any other Company stockholder asserted or could have asserted in the Derivative Actions against any of the defendants named in those actions, in exchange for the Company’s agreement to implement and/or maintain certain corporate governance measures, as more fully described in the Stipulation and Notice of Proposed Derivative Settlement as filed by the Company with the SEC on a Current Report on Form 8-K dated June 29, 2023 (the “Settlement”). On June 27, 2023, the Superior Court of Hudson County, New Jersey issued an order preliminarily approving the proposed Settlement as set forth in the Stipulation. On August 25, 2023, the Superior Court of Hudson County, New Jersey approved the Settlement and dismissed the case with prejudice. Environmental Matters The Company is involved in various matters concerning federal and state environmental laws and regulations, including matters in which the Company has been identified by the U.S. Environmental Protection Agency (“U.S. EPA”) and certain state environmental agencies as a potentially responsible party (“PRP”) at contaminated sites under the Comprehensive Environmental Response Compensation and Liability Act (“CERCLA”) and equivalent state laws. In assessing its environmental response costs, the Company has considered several factors, including the extent of the Company’s volumetric contribution at each site relative to that of other PRPs; the kind of waste; the terms of existing cost sharing and other applicable agreements; the financial ability of other PRPs to share in the payment of requisite costs; the Company’s prior experience with similar sites; environmental studies and cost estimates available to the Company; the effects of inflation on cost estimates; and the extent to which the Company’s, and other parties’ status as PRPs is disputed. The Company’s estimate of environmental remediation costs associated with these matters at December 31, 2023 was $41 million which is included in other accrued liabilities and other noncurrent liabilities in the Consolidated Balance Sheets. No insurance recovery was taken into account in determining the Company’s cost estimates or reserves, nor do the Company’s cost estimates or reserves reflect any discounting for present value purposes, except with respect to certain long-term operations and maintenance CERCLA matters. Because of the uncertainties associated with environmental investigations and response activities, the possibility that the Company could be identified as a PRP at sites identified in the future that require the incurrence of environmental response costs and the possibility that sites acquired in business combinations may require environmental response costs, actual costs to be incurred by the Company may vary from the Company’s estimates. Lower Passaic River Matter The U.S. EPA has issued General Notice Letters to over 100 entities, including the Company and its subsidiary, Berol Corporation (together, the “Company Parties”), alleging that they are PRPs at the Diamond Alkali Superfund Site (the “Site”) pursuant to CERCLA. The Site is the subject of investigation and remedial activities and related settlement negotiations with the U.S. EPA. The Site is divided into four “operable units,” and the Company Parties have received General Notice Letters in connection with operable Unit 2, which comprises the lower 8.3 miles of the Lower Passaic River and its tributaries (“Unit 2”), and operable Unit 4, which comprises a 17-mile stretch of the Lower Passaic River and its tributaries (“Unit 4”). Unit 2 is geographically subsumed within Unit 4. In October 2021, the U.S. EPA issued a Record of Decision for an interim remedy for the upper 9 miles of Unit 4, selecting a combination of dredging and capping as the remedial alternative, which the U.S. EPA estimates will cost $441 million in the aggregate. The U.S. EPA also performed a Source Control Early Action Focused Feasibility Study for Unit 2, which culminated in a Record of Decision in 2016. The U.S. EPA estimates that the selected remedy for Unit 2 set forth in its Record of Decision will cost $1.4 billion in the aggregate. In September 2017, the U.S. EPA announced an allocation process involving roughly 80 Unit 2 General Notice Letter recipients, with the intent of offering cash-out settlements to a number of parties (the “U.S. EPA Settlement”). The allocation process has concluded, and the Company Parties were placed in the lowest tier of relative responsibility among allocation parties. On December 16, 2022, the U.S. EPA simultaneously filed a complaint and lodged a Consent Decree to resolve the liability of the Company Parties and other settlement parties for past and future CERCLA response costs at Unit 2 and Unit 4. On January 17, 2024, following review of public comments, the U.S. EPA filed an amended complaint and lodged a modified Consent Decree. U.S. EPA filed a motion to enter the modified Consent Decree on January 31, 2024. As of the date of this filing, the Company does not expect that its allocation in the U.S. EPA Settlement relating to Unit 2 and Unit 4, if the settlement is finalized, will be material to the Company. In June 2018, Occidental Chemical Corporation (“OCC”) sued over 100 parties, including the Company Parties, in the U.S. District Court in New Jersey pursuant to CERCLA, requesting cost recovery, contribution, and a declaratory judgement. The defendants, in turn, filed claims against 42 third-party defendants, and filed counterclaims against OCC (collectively, the “OCC Litigation”). The primary focus of the OCC Litigation has been certain past and future costs for investigation, design and remediation of Units 2 and 4. However, OCC has stated that it anticipates asserting claims against defendants regarding Newark Bay, which is also part of the Site, after the U.S. EPA has selected the Newark Bay remedy. OCC has also stated that it may broaden its claims in the future after completion of the Natural Resource Damage Assessment described below. In March 2023, the Court granted an unopposed motion to stay the OCC Litigation. On January 5, 2024, the Court granted a motion to extend the stay pending the Court’s adjudication of the then anticipated, and currently pending, motion to enter the amended Consent Decree embodying the U.S. EPA Settlement. At this time, the Company cannot predict the eventual outcome of the OCC Litigation. In 2007, the National Oceanic and Atmospheric Administration (“NOAA”), acting as the lead administrative trustee on behalf of itself and the U.S. Department of the Interior, issued a Notice of Intent to Perform a Natural Resource Damage Assessment to the Company Parties, along with numerous other entities, identifying the recipients as PRPs. The federal trustees (who now include the United States Department of Commerce, represented by NOAA, and the Department of the Interior, represented by the United States Fish and Wildlife Service) are presently undertaking the Natural Resource Damage Assessment with respect to the Site. Based on currently known facts and circumstances, the Company does not believe that the Lower Passaic River matter is reasonably likely to have a material impact on the Company’s results of operations. However, in the event of one or more adverse determinations related to this matter, including the OCC Litigation and Natural Resource Damage Assessment noted above (for which the Company cannot currently estimate the range of possible losses), it is possible that the ultimate liability resulting from this matter and the impact on the Company’s results of operations could be material. Because of the uncertainties associated with environmental investigations and response activities, the possibility that the Company could be identified as a PRP at sites identified in the future that require the incurrence of environmental response costs and the possibility that sites acquired in business combinations may require environmental response costs, actual costs to be incurred by the Company may vary from the Company’s estimates. Other Matters In the normal course of business and as part of its acquisition and divestiture strategy, the Company may provide certain representations and indemnifications related to legal, environmental, product liability, tax or other types of issues. Based on the nature of these representations and indemnifications, it is not possible to predict the maximum potential payments under all of these agreements due to the conditional nature of the Company’s obligations and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements did not have a material effect on the Company’s business, financial condition or results of operations. In connection with the 2018 sale of The Waddington Group, Novolex Holdings, Inc. (the “Buyer”) filed suit against the Company in October 2019 in the Superior Court of Delaware. The Buyer generally alleged that the Company fraudulently breached certain representations in the Equity Purchase Agreement between the Company and Buyer, dated May 2, 2018, resulting in an inflated purchase price for The Waddington Group. In the year ended December 31, 2021, the Company recorded an immaterial reserve in its Consolidated Financial Statements based on its best estimate of probable loss associated with this matter. Further, in connection with the Company’s sale of The United States Playing Card Company (“USPC”), Cartamundi, Inc. and Cartamundi España, S.L., (the “Buyers”) have notified the Company of their contention that certain representations and warranties in the Stock Purchase Agreement, dated June 4, 2019, were inaccurate and/or breached, and have sought indemnification to the extent that the Buyers are required to pay related damages arising out of a third party lawsuit that was recently filed against USPC. During the fourth quarter of 2022, the Company recorded an immaterial reserve based on the outcome of a judicial ruling relating to indirect taxes in an international entity. During the first quarter of 2023, the Company paid the estimated liability to the relevant taxing authorities. Although the Company cannot predict the ultimate outcome of this contingency with certainty, it believes that any additional amounts it may be required to pay will not have a material effect on the Company’s Consolidated Financial Statements. Although the Company cannot predict the ultimate outcome of other proceedings with certainty, it believes that the ultimate resolution of the Company’s proceedings, including any amounts it may be required to pay in excess of amounts reserved, will not have a material effect on the Company’s Consolidated Financial Statements, except as otherwise described in this Footnote 18. At December 31, 2023, the Company had approximately $38 million in standby letters of credit primarily related to the Company’s self-insurance programs, including workers’ compensation, product liability and medical expenses.

Income Taxes - Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax [Line Items]
Income (loss) before income taxes	$ (543)	$ 157	$ 760
Domestic
Income Tax [Line Items]
Domestic	(995)	(698)	(353)
Foreign
Income Tax [Line Items]
Foreign	$ 452	$ 855	$ 1,113

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
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+ Details

Divestiture Activity (Details) - USD ($) $ in Millions		12 Months Ended
Divestiture Activity (Details) - USD ($) $ in Millions	Nov. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposition of business		$ 1	$ 136	$ 4
Millefiori \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposition of business	$ 0
CH&S \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposition of business			$ 136
Sale of business, consideration received					$ 593

Employee Benefit and Retirement Plans - Summary of Reconciliation of Change in Fair Value Measurement of Defined Benefit Plans' Consolidated Assets Using Significant Unobservable Inputs (Level 3) (Detail) - Level 3 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Change in plan assets:
Fair value of plan assets at beginning of year	$ 194	$ 9
Unrealized losses		(101)
Purchases, sales, settlements and other, net	(184)	286
Fair value of plan assets at end of year	$ 10	$ 194

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Fair Value Disclosures - Additional Information (Details) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2023 USD ($) tradename	Dec. 31, 2022 USD ($) tradename	Sep. 30, 2022 tradename	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investment							$ 18
Equity method investment at fair value	$ 12			$ 12
Home and Commercial Solutions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of indefinite-lived intangible assets \| tradename		2
Home and Commercial Solutions \| Trade Names
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of indefinite-lived intangible assets \| tradename	2	2	2
Learning and Development
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of indefinite-lived intangible assets \| tradename		1
Learning and Development \| Trade Names
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of indefinite-lived intangible assets \| tradename		1	2
Level 3 \| Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indefinite-lived intangibles	$ 544	$ 129		544	$ 129
Level 3 \| Fair Value, Measurements, Nonrecurring \| Home Segment \| Trade Names
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indefinite-lived intangibles	491	68		491	68
Level 3 \| Fair Value, Measurements, Nonrecurring \| Commercial Solutions Segment \| Trade Names
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indefinite-lived intangibles	$ 53	25		$ 53	25
Level 3 \| Fair Value, Measurements, Nonrecurring \| Learning and Development \| Trade Names
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indefinite-lived intangibles		$ 36			36
Level 3 \| Measurement Input, Discount Rate \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill measurement input	0.080			0.080
Intangible asset measurement input	0.080			0.080
Level 3 \| Measurement Input, Discount Rate \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill measurement input	0.100			0.100
Intangible asset measurement input	0.135			0.135
Other operating income (expense)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment gain				$ 0	$ 1	$ 2

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Other Accrued Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Customer accruals	$ 659	$ 636
Accrued income taxes	89	53
Operating lease liabilities	122	121
Accrued self-insurance liabilities, contingencies and warranty	92	99
Accrued marketing and freight expenses	71	73
Accrued interest expense	74	63
Other	268	227
Other accrued liabilities	$ 1,375	$ 1,272

Income Taxes - Deferred Tax Amounts Classified in the Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Noncurrent deferred tax assets	$ 806	$ 810
Noncurrent deferred tax liabilities	(241)	(520)
Net deferred tax assets	$ 565	$ 290

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax [Line Items]
Undistributed earnings of foreign subsidiaries	$ 6,000
Undistributed foreign earnings	12
Unremitted earnings	6,000
Operating loss carryforwards	1,300
Operating loss carryforwards, not subject to expiration	841
Operating loss carryforwards, subject to expiration	447
Income tax receivable noncurrent	290	$ 271
Payment of one-time toll charge		10
Increase in noncurrent income tax receivable		271
Decrease in Income taxes payable		95
Increase in deferred tax liabilities		356
Valuation allowance	184	148
Unrecognized tax benefits that would impact effective tax rate	387	412	$ 387
Unrecognized tax benefits, income tax penalties and interest expense	9	5	$ 7
Decrease in unrecognized tax benefits	39
Operations Deferred Tax Asset Deemed Realizable
Income Tax [Line Items]
Increase (decrease) in net valuation allowance	36	$ (38)
Tax Year 2017
Income Tax [Line Items]
Payment of one-time toll charge	19
Domestic Tax Authority
Income Tax [Line Items]
Operating loss carryforwards	150
Operating loss carryforwards, subject to expiration, varying limitations	12
Domestic Tax Authority \| Carryback 3 years, carryforward 5 years
Income Tax [Line Items]
Operating loss carryforwards, not subject to expiration	126
Domestic Tax Authority \| Tax year 2018
Income Tax [Line Items]
Operating loss carryforwards, not subject to expiration	84
Domestic Tax Authority \| Tax Year 2021
Income Tax [Line Items]
Operating loss carryforwards, not subject to expiration	42
Foreign Tax Authority
Income Tax [Line Items]
Operating loss carryforwards	1,100
Operating loss carryforwards, subject to expiration	16
State Jurisdiction
Income Tax [Line Items]
Operating loss carryforwards	188
Operating loss carryforwards, subject to expiration	1,100
State Jurisdiction \| Carryback 3 years, carryforward 5 years
Income Tax [Line Items]
Operating loss carryforwards	131
State Jurisdiction \| Tax year 2018
Income Tax [Line Items]
Operating loss carryforwards	26
State Jurisdiction \| Tax Year 2021
Income Tax [Line Items]
Operating loss carryforwards	13
State Jurisdiction \| Tax year 2020
Income Tax [Line Items]
Operating loss carryforwards	146
State Jurisdiction \| Tax Year 2022
Income Tax [Line Items]
Operating loss carryforwards	3
State Jurisdiction \| Five-year carryforward
Income Tax [Line Items]
Operating loss carryforwards	57
State Jurisdiction \| Maximum
Income Tax [Line Items]
Operating loss carryforwards, not subject to expiration	1,300
State Jurisdiction \| Minimum
Income Tax [Line Items]
Operating loss carryforwards, not subject to expiration	$ 147

Leases - Schedule of Consolidated Statement Of Operation Related To Leases (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating lease cost:
Operating lease cost	$ 172	$ 172	$ 166
Variable lease costs	24	21	23
Finance lease cost
Amortization of leased assets	$ 1	$ 4	$ 4

Restructuring (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Costs Incurred by Reportable Business Segment

Restructuring costs incurred by reportable business segment for all restructuring activities for the years ended December 31, are as follows (in millions):


	2023		2022		2021
Home and Commercial Solutions	$	50	$	5	$	11
Learning and Development	18		4		1
Outdoor and Recreation	11		5		3
Corporate	16		1		1
	$	95	$	15	$	16

Schedule of Accrued Restructuring Costs Activity

Accrued restructuring costs activity for the year ended December 31, 2023 are as follows (in millions):


	Balance at December 31, 2022		Restructuring Costs, Net		Payments		Foreign Currency and Other		Balance at December 31, 2023
Severance and termination costs	$	7	$	89	$	(66)	$	—	$	30
Contract termination and other costs	—		6		(5)		(1)		—
	$	7	$	95	$	(71)	$	(1)	$	30

Accrued restructuring costs activity for the year ended December 31, 2022 are as follows (in millions):


	Balance at December 31, 2021		Restructuring Costs, Net		Payments		Balance at December 31, 2022
Severance and termination costs	$	8	$	13	$	(14)	$	7
Contract termination and other costs	2		2		(4)		—
	$	10	$	15	$	(18)	$	7

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts


	Balance at Beginning of Period		Provision		Other		Write-offs/ Disposition		Balance at End of Period
(in millions)
Reserve for Credit Losses:
Year Ended December 31, 2023	$	31	$	2	$	(1)	$	(1)	$	31
Year Ended December 31, 2022	27		11		—		(7)		31
Year Ended December 31, 2021	36		1		(2)		(8)		27


	Balance at Beginning of Period		Provision		Other		Write-offs/ Disposition		Balance at End of Period
(in millions)
Income Tax Valuation Allowance
Year Ended December 31, 2023	$	148	$	60	$	—	$	(24)	$	184
Year Ended December 31, 2022	186		15		(5)		(48)		148
Year Ended December 31, 2021	213		31		(7)		(51)		186

Weighted Average Shares Outstanding

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Weighted Average Shares Outstanding

The computations of the weighted average shares outstanding for the years ended December 31, are as follows (in millions):


	2023	2022	2021


Basic weighted-average shares outstanding	414.1	415.7	425.3
Dilutive securities (1)	—	1.7	2.7
Diluted weighted-average shares outstanding	414.1	417.4	428.0

(1)For 2023, 1.5 million potentially dilutive share-based awards were excluded as their effect would be anti-dilutive.

At December 31, 2023 and 2022, there were 0.8 million and 0.1 million potentially dilutive restricted stock awards with performance-based targets that were not met and as such, have been excluded from the computation of diluted earnings per share. At December 31, 2021, there were no potentially dilutive restricted stock awards with performance-based targets that were not met.

For 2023, 2022 and 2021 dividends and equivalents for share-based awards expected to be forfeited did not have a material impact on net income for basic and diluted earnings per share.

Share Repurchase Program

On February 6, 2022, the Company’s Board of Directors authorized a $375 million Share Repurchase Program (“SRP”), effective through its expiration date of December 31, 2022. Under the SRP, the Company may purchase its common shares in the open market, in negotiated transactions or in other manners, as permitted by federal securities laws and other legal requirements. On February 25, 2022, the Company repurchased $275 million of its shares of common stock beneficially owned by Carl C. Icahn and certain of his affiliates, at a purchase price of $25.86 per share, the closing price of the Company’s common shares on February 18,

2022. During the three months ended June 30, 2022, the Company repurchased approximately $50 million of its shares of common stock at an average purchase price of $22.01 per share.

Share-Based Compensation - Summary of Changes of Restricted Stock and Restricted Stock Units (Detail) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock Unit
Restricted stock outstanding, beginning of period (in shares)	4.5
Restricted stock units granted (in shares)	10.5
Restricted stock units grant adjustment (in shares)	(0.6)
Restricted stock units vested (in shares)	(0.9)
Restricted stock units forfeited (in shares)	(1.0)
Restricted stock outstanding, end of period (in shares)	12.5	4.5
Restricted stock units expected to vest, end of period (in shares)	12.5
Weighted Average Grant Date Fair Value Per Share
Weighted-average grant date fair value per share, outstanding, beginning of period (per share)	$ 24
Granted, weighted-average grant date fair value (per share)	11	$ 26	$ 25
Grant adjustment, weighted-average grant date fair value (per share)	22
Vested, weighted-average grant date fair value (per share)	22
Forfeited, weighted-average grant date fair value (per share)	19
Weighted-average grant date fair value per share, outstanding, end of period (per share)	14	$ 24
Weighted-average grant date fair value expected to vest, end of period (per share)	$ 12

Income Taxes - Schedule of Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 56	$ (245)	$ 48
State	1	6	17
Foreign	71	102	97
Total current	128	(137)	162
Deferred:
Federal	(232)	163	(26)
State	(40)	(34)	(20)
Foreign	(11)	(32)	22
Total deferred	(283)	97	(24)
Total income tax provision (benefit)	$ (155)	$ (40)	$ 138

Weighted Average Shares Outstanding - Schedule of Computations of Weighted Average Shares Outstanding (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Basic weighted-average shares outstanding (in shares)	414.1	415.7	425.3
Dilutive securities (in shares)	0.0	1.7	2.7
Diluted weighted-average shares outstanding (in shares)	414.1	417.4	428.0
Potentially dilutive restricted share awards excluded from computation of diluted EPS (in shares)	1.5

Income Taxes - Reconciliation of U.S. Statutory Rate to Effective Income Tax Rate on Continuing Basis (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory rate	21.00%	21.00%	21.00%
Add (deduct) effect of:
State income taxes, net of federal income tax effect	5.70%	(14.80%)	(0.50%)
U.S foreign inclusions and foreign tax credit	(2.40%)	(43.50%)	3.60%
Foreign rate differential	12.30%	(47.20%)	(11.60%)
Change in uncertain tax positions	0.00%	16.70%	0.10%
Change in valuation allowance reserve	(9.20%)	(13.80%)	(3.80%)
Impairments	1.00%	20.70%	0.00%
Sale of businesses	(0.90%)	(21.20%)	0.00%
Capital loss	1.40%	0.00%	(2.10%)
Reversal of outside basis difference	11.20%	1.60%	0.40%
Non-deductible compensation	(1.10%)	1.90%	0.40%
Other taxes	(1.80%)	4.50%	1.30%
U.S. income inclusions on asset transfers	(10.10%)	50.30%	11.10%
Foreign exchange	0.00%	2.00%	0.00%
Other tax credits	1.80%	1.00%	(0.40%)
Return to provision	1.50%	(11.30%)	(1.70%)
Other	(1.90%)	6.60%	0.40%
Effective rate	28.50%	(25.50%)	18.20%

Fair Value Disclosures

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Disclosures

Accounting principles generally accepted in the U.S. define fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). These valuation techniques are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. As the basis for evaluating such inputs, a three-tier value hierarchy prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets.

Level 2: Observable inputs other than quoted prices that are directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets; quoted prices for similar or identical assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions.

Recurring Fair Value Measurements

The Company’s financial assets and liabilities adjusted to fair value at least annually are its money market fund investments included in cash and cash equivalents, its mutual fund investments included in other assets, and its derivative instruments, which are primarily included in prepaid expenses and other, other assets, other accrued liabilities and other noncurrent liabilities.

The following tables present the Company’s non-pension financial assets and liabilities, which are measured at fair value on a recurring basis (in millions):


	December 31, 2023								December 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Derivatives:
Assets	$	—	$	45	$	—	$	45	$	—	$	97	$	—	$	97
Liabilities	—		(165)		—		(165)		—		(124)		—		(124)
Investment securities, including mutual funds	14		—		—		14		14		—		—		14

For publicly-traded investment securities, including mutual funds, fair value is determined on the basis of quoted market prices and, accordingly, such investments are classified as Level 1. Other investment securities are primarily comprised of money market accounts that are classified as Level 2. The Company determines the fair value of its derivative instruments using standard pricing models and market-based assumptions for all significant inputs, such as yield curves and quoted spot and forward exchange rates. Accordingly, the Company’s derivative instruments are classified as Level 2.

During 2019, the Company acquired an equity investment for $18 million, which is traded on an active exchange and therefore has a readily determinable fair value. At December 31, 2023, the fair value of the equity investment was $12 million. For equity investments with readily determinable fair values, the Company recorded unrealized immaterial gain for 2023, $1 million and $2 million gain for 2022 and 2021, respectively, within other (income) expense, net in the Consolidated Statement of Operations.

The Company adjusts its pension asset values to fair value on an annual basis (See Footnote 11).

Financial Instruments

The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable, derivative instruments, notes payable and short and long-term debt. The carrying values for current financial assets and liabilities, including cash and cash equivalents, accounts receivable, accounts payable and short-term debt approximate fair value due to the short maturity of such instruments. The fair values of the Company’s debt and derivative instruments are disclosed in Footnote 9 and Footnote 10, respectively.

Nonrecurring Fair Value Measurements

The Company’s non-financial assets which are measured at fair value on a nonrecurring basis include property, plant and equipment, goodwill, intangible assets and certain other assets.

The Company’s goodwill and indefinite-lived intangibles are fair valued using discounted cash flows. Goodwill impairment testing requires significant use of judgment and assumptions including the identification of reporting units; the assignment of assets and liabilities to reporting units; and the estimation of future cash flows, business growth rates, terminal values and discount rates. The testing of indefinite-lived intangibles under established guidelines for impairment also requires significant use of judgment and assumptions, such as the estimation of cash flow projections, terminal values, royalty rates, contributory cross charges, where applicable, and discount rates. Accordingly, these fair value measurements fall in Level 3 of the fair value hierarchy. These assets and certain liabilities are measured at fair value on a nonrecurring basis as part of the Company’s annual impairment testing and as circumstances require.

The following table summarizes the assets that are measured at fair value on a nonrecurring basis at December 1, (in millions):


	2023		2022
	Level 3

Indefinite-lived intangibles	$	544	$	129
	$	544	$	129

At December 31, 2023 and 2022, goodwill and intangible assets of certain reporting units are recorded at fair value based upon the Company’s impairment testing. The most significant unobservable inputs (Level 3) used to estimate the fair values of the Company’s reporting unit goodwill and indefinite-lived intangible assets are discount rates, which range from 8.0% to 10.0% for reporting unit goodwill and 8.0% to 13.5% for indefinite-lived intangible assets.

During the fourth quarter of 2023, two tradenames in the Home and Commercial Solutions segment were measured at fair values of $491 million and $53 million. During the fourth quarter of 2022, two tradenames within the Home and Commercial Solutions segment and one in the Learning and Development segment were measured at fair values of $68 million, $25 million and $36 million, respectively. See Footnotes 1 and 7 for further information.

The Company reviews long-lived assets for impairment whenever events or circumstances indicate that carrying amounts may not be recoverable through future undiscounted cash flows. If the Company concludes that impairment exists, the carrying amount is reduced to fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ (388)	$ 197	$ 622
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	334	296	325
Impairment of goodwill, intangibles and other assets	342	474	60
Gain from sale of businesses	(1)	(136)	(4)
Deferred income taxes	(283)	97	(24)
Stock based compensation expense	50	12	52
Pension settlement charge	126	0	0
Loss on extinguishment of debt	0	1	5
Other, net	(33)	(24)	(10)
Changes to operating accounts, excluding the effects of divestitures:
Accounts receivable	67	130	130
Inventories	673	(276)	(463)
Accounts payable	(50)	(536)	177
Accrued liabilities and other	93	(507)	14
Net cash provided by (used in) operating activities	930	(272)	884
Cash flows from investing activities:
Proceeds from sale of divested businesses	11	617	0
Capital expenditures	(284)	(312)	(289)
Proceeds from settlement of swaps	43	25	15
Other investing activities	31	13	6
Net cash provided by (used in) investing activities	(199)	343	(268)
Cash flows from financing activities:
Short-term debt, net	(488)	619	0
Net proceeds from issuance of long-term debt	0	989	0
Payments on current portion of long-term debt	(2)	(1,091)	(698)
Payments on long-term debt	0	0	(6)
Repurchase of shares of common stock	0	(325)	0
Cash dividends	(184)	(385)	(394)
Acquisition of noncontrolling interests	0	0	(28)
Equity compensation activity and other, net	10	(39)	(17)
Net cash used in financing activities	(664)	(232)	(1,143)
Exchange rate effect on cash, cash equivalents and restricted cash	(9)	(13)	(17)
Increase (decrease) in cash, cash equivalents and restricted cash	58	(174)	(544)
Cash, cash equivalents and restricted cash at beginning of period	303	477	1,021
Cash, cash equivalents and restricted cash at end of period	361	303	477
Supplemental disclosures:
Restricted cash at beginning of period	16	37	40
Restricted cash at end of period	29	16	37
Cash paid for income taxes, net of refunds	103	172	165
Cash paid for interests	$ 298	$ 244	$ 271

Derivatives and Foreign Currency Operations - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023 USD ($) swap	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2022 USD ($) swap
Derivative [Line Items]
Fair value of derivatives, liability	$ 120,000,000	$ 27,000,000
Derivative instruments not designated as hedging instruments, income (expense), net	(17,000,000)	(13,000,000)	$ 13,000,000
Cash flow hedge loss to be reclassified within twelve months	(13,000,000)
Foreign currency transaction loss, before tax	$ 10,000,000	41,000,000	5,000,000
6.375% senior notes due 2027
Derivative [Line Items]
Interest rate	6.375%
6.375% senior notes due 2027 \| Senior notes
Derivative [Line Items]
Debt instrument, face amount	$ 500,000,000
Interest rate	6.375%
6.625% senior notes due 2029
Derivative [Line Items]
Interest rate	6.625%
6.625% senior notes due 2029 \| Senior notes
Derivative [Line Items]
Debt instrument, face amount	$ 500,000,000
Interest rate	6.625%
4.000% senior notes due 2024
Derivative [Line Items]
Interest rate	4.00%
4.000% senior notes due 2024 \| Senior notes
Derivative [Line Items]
Debt instrument, face amount	$ 100,000,000
Interest rate	4.00%
Interest rate swaps
Derivative [Line Items]
Derivative, notional amount	$ 1,100,000,000
Cross-currency Swaps
Derivative [Line Items]
Derivative, notional amount				$ 500,000,000
Number of cross-currency swaps \| swap	3			2
Fair value of derivatives, liability	$ 1,300,000,000
Gain on derivative	38,000,000	$ 31,000,000	$ 16,000,000
Cross-currency Swaps \| 6.375% senior notes due 2027
Derivative [Line Items]
Number of cross-currency swaps \| swap				1
Cross-currency Swaps \| 6.625% senior notes due 2029
Derivative [Line Items]
Number of cross-currency swaps \| swap				1
Foreign currency contracts
Derivative [Line Items]
Derivative, notional amount	348,000,000
Foreign currency contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	$ 1,300,000,000

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 8,133	$ 9,459	$ 10,589
Cost of products sold	5,780	6,625	7,226
Gross profit	2,353	2,834	3,363
Selling, general and administrative expense	2,001	2,033	2,274
Restructuring costs, net	95	15	16
Impairment of goodwill, intangibles and other assets	342	474	60
Operating income (loss)	(85)	312	1,013
Non-operating expenses:
Interest expense, net	283	235	256
Loss on extinguishment of debt	0	1	5
Other (income) expense, net	175	(81)	(8)
Income (loss) before income taxes	(543)	157	760
Income tax provision (benefit)	(155)	(40)	138
Net income (loss)	$ (388)	$ 197	$ 622
Weighted average common shares outstanding:
Basic (in shares)	414.1	415.7	425.3
Diluted (in shares)	414.1	417.4	428.0
Earnings (loss) per share:
Basic (in USD per share)	$ (0.94)	$ 0.47	$ 1.46
Diluted (in USD per share)	$ (0.94)	$ 0.47	$ 1.45
COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ (388)	$ 197	$ 622
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	20	(113)	(94)
Unrecognized pension and postretirement costs	113	(17)	64
Derivative financial instruments	(12)	1	28
Total other comprehensive income (loss), net of tax	121	(129)	(2)
Comprehensive income (loss)	(267)	68	620
Total comprehensive income attributable to noncontrolling interests	0	0	2
Total comprehensive income (loss) attributable to parent	$ (267)	$ 68	$ 618

Employee Benefit and Retirement Plans

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Employee Benefit and Retirement Plans

The Company and its subsidiaries have noncontributory pension, profit sharing and contributory 401(k) plans covering substantially all of their international and domestic employees. Pension plan benefits are generally based on years of service and/or compensation. The Company’s funding policy is to contribute not less than the minimum amounts required by the Employee Retirement Income Security Act of 1974, as amended, the Internal Revenue Code of 1986, as amended, or foreign statutes to ensure that plan assets will be adequate to provide retirement benefits.

The funded status of the Company’s defined benefit pension plans and postretirement benefit plans is recognized in the Consolidated Balance Sheets. The funded status is measured as the difference between the fair value of plan assets and the benefit obligation at December 31, the measurement date. For defined benefit pension and postretirement benefit plans, the benefit obligation is the projected benefit obligation (“PBO”), which represents the actuarial present value of benefits expected to be paid upon retirement based on employee services already rendered and estimated future compensation levels. The fair value of plan assets represents the current market value of assets held for the sole benefit of participants. Over funded plans, with the fair value of plan assets exceeding the benefit obligation, are aggregated and recorded as a prepaid pension asset equal to this excess. Underfunded plans, with the benefit obligation exceeding the fair value of plan assets, are aggregated and recorded as a retirement and postretirement benefit obligation equal to this excess. The current portion of the retirement and postretirement benefit obligations represents the actuarial present value of benefits payable in the next 12 months exceeding the fair value of plan assets, measured on a plan-by-plan basis. This obligation is recorded in other accrued liabilities in the Consolidated Balance Sheets. Net periodic pension and postretirement benefit cost/(income) is recorded in the Consolidated Statements of Operations and includes service cost, interest cost, expected return on plan assets, amortization of prior service costs/(credits) and (gains)/losses previously recognized as a component of AOCL and amortization of the net transition asset remaining in AOCL. The service cost component of net benefit cost is recorded in cost of products sold and SG&A in the Consolidated Statements of Operations (unless eligible for capitalization) based on the employees’ respective functions. The other components of net benefit cost are presented separately from service cost within other (income) expense, net in the Consolidated Income Statement. In 2024, the amount of AOCL expected to be recognized in pension and postretirement benefit (income) expense is an expense of $2 million and an income of $5 million, respectively.

(Gains)/losses and prior service costs/(credits) are recognized as a component of OCL in the Consolidated Statements of Comprehensive Income (Loss) as they arise. Those (gains)/losses and prior service costs/(credits) are subsequently recognized as a component of net periodic cost/(income) pursuant to the recognition and amortization provisions of applicable accounting guidance. (Gains)/losses arise as a result of differences between actual experience and assumptions or as a result of changes in actuarial assumptions. Prior service costs/(credits) represent the cost of benefit changes attributable to prior service granted in plan amendments.

The measurement of benefit obligations and net periodic cost/(income) is based on estimates and assumptions approved by the Company’s management. These valuations reflect the terms of the plans and use participant-specific information such as compensation, age and years of service, as well as certain assumptions, including estimates of discount rates, expected return on plan assets, rate of compensation increases, interest crediting rates and mortality rates.

The Company has a Supplemental Executive Retirement Plan (“SERP”), which is a nonqualified defined benefit and defined contribution plan pursuant to which the Company will pay supplemental benefits to certain key employees upon retirement based upon the employees’ years of service and compensation. The SERP is primarily funded through a trust agreement with a trustee that owns life insurance policies on both active and former key employees with aggregate net death benefits of $300 million. At December 31, 2023 and 2022, the life insurance contracts were accounted for using the investment method and had a cash surrender value of $141 million, for both periods, and are included in other assets in the Consolidated Balance Sheets. All premiums paid and proceeds received associated with the life insurance policies are included as investing activities in the Consolidated Statements of Cash Flows. The projected benefit obligation was $77 million and $81 million at December 31, 2023 and 2022, respectively. The

SERP liabilities are included in the pension table hereafter; however, the value of the Company’s investments in the life insurance contracts, cash and mutual funds are excluded from the table, as they do not qualify as plan assets.

The Company’s matching contributions to the Company’s contributory 401(k) plans were $37 million for both 2023 and 2022 and $36 million for 2021.

U.K. Defined Benefit Plan

In February 2022, the Company entered into an agreement with an insurance company for a bulk annuity purchase or “buy-in” for one of its U.K. defined benefit pension plans (“U.K. Plan”), resulting in an exchange of plan assets for an annuity that matches the plan’s future projected benefit obligations (“PBO”) to covered participants.

In April 2023, the Company completed a “buy-out” of approximately 7% of the U.K. Plan's PBO. The “buy-out” was completed by the execution of a Deed Poll Agreement and a Deed of Assignment with an insurance company. In September 2023, the Company completed the “buy-out” of the remaining PBO of the aforementioned plan through the execution of a Deed Poll Agreement and a Deed of Assignment with an insurance company. In connection with these transactions, the Company recorded a pretax settlement loss of $66 million in other (income) expense, net, in the Company’s Consolidated Statement of Operations, related to the recognition of previously unrecognized actuarial losses reclassified from AOCL to losses.

U.S. Defined Benefit Plan Partial Buyout

In October 2023, the Company entered into an agreement with an insurance company to purchase a group annuity contract to settle approximately $163 million of PBO for approximately 55% of retirees in one of its U.S. defined benefit pension plans. The transaction or the transfer of the pension liability to the insurance company will be funded with the plan's existing assets. In November 2023, the Company completed the “buy-out” and in connection with the transaction, the Company recorded a pretax settlement loss of $60 million in other (income) expense, net, in the Company’s Consolidated Statement of Operations, related to the recognition of previously unrecognized actuarial losses reclassified from AOCL to losses.

Defined Benefit Pension Plans


	Pension Benefits												Postretirement Benefits
	United States						International
Change in benefit obligation:	2023			2022			2023			2022			2023			2022
Benefit obligation at beginning of year	$	936		$	1,238		$	417		$	623		$	30		$	41
Service cost	—			—			3			4			—			—
Interest cost	44			25			15			8			1			1
Actuarial gain	(24)			(247)			(13)			(137)			(2)			(8)

Currency translation	—			—			14			(56)			—			—
Benefits paid	(79)			(80)			(20)			(23)			(3)			(4)

Curtailments, settlements and other	(164)			—			(172)			(2)			—			—
Benefit obligation at end of year (1)	$	713		$	936		$	244		$	417		$	26		$	30
Change in plan assets:
Fair value of plan assets at beginning of year	843			1,133			354			595			—			—
Actual return on plan assets	57			(220)			(10)			(166)			—			—
Contributions	11			10			12			7			3			4
Currency translation	—			—			13			(57)			—			—
Benefits paid	(79)			(80)			(20)			(23)			(3)			(4)

Settlements and other	(164)			—			(173)			(2)			—			—
Fair value of plan assets at end of year	$	668		$	843		$	176		$	354		$	—		$	—
Funded status at end of year	$	(45)		$	(93)		$	(68)		$	(63)		$	(26)		$	(30)
Amounts recognized in the Consolidated Balance Sheets:
Prepaid benefit cost, included in other assets	$	50		$	7		$	23		$	23		$	—		$	—
Accrued current benefit cost—other accrued liabilities	(11)			(11)			(4)			(4)			(4)			(4)
Accrued noncurrent benefit cost— other noncurrent liabilities	(84)			(89)			(87)			(82)			(22)			(26)
Net amount recognized	$	(45)		$	(93)		$	(68)		$	(63)		$	(26)		$	(30)
Assumptions:
Weighted-average assumptions used to determine benefit obligation:
Discount rate	4.94		%	5.20		%	3.82		%	4.07		%	4.84		%	5.11		%
Long-term rate of compensation increase	3.00		%	3.00		%	2.37		%	2.41		%	—		%	—		%
Current health care cost trend rates	—		%	—		%	—		%	—		%	5.87		%	6.65		%
Ultimate health care cost trend rates	—		%	—		%	—		%	—		%	4.50		%	4.50		%

(1)The accumulated benefit obligation for all defined benefit pension plans was $1.0 billion and $1.4 billion at December 31, 2023 and 2022, respectively.

There are no plan assets associated with the Company’s postretirement benefit plans.

The current healthcare cost trend rate gradually declines through 2038 to the ultimate trend rate and remains level thereafter.

Summary of under-funded or non-funded pension benefit plans with projected benefit obligations in excess of plan assets at December 31, (in millions):


	Pension Benefits
	2023		2022
Projected benefit obligation	$	315	$	311
Fair value of plan assets	129		125

Summary of pension plans with accumulated obligations in excess of plan assets at December 31, (in millions):


	Pension Benefits
	2023		2022
Accumulated benefit obligation	$	309	$	303
Fair value of plan assets	129		123

Pension and Postretirement Benefit Expense

The components of pension and postretirement benefit expense for the periods indicated are as follows (dollars in millions):


	Pension Benefits
	United States									International
	2023			2022			2021			2023			2022			2021
Service cost	$	—		$	—		$	—		$	3		$	4		$	4
Interest cost	44			25			20			15			8			6
Expected return on plan assets	(52)			(47)			(51)			(11)			(6)			(3)
Amortization:
Prior service cost	—			—			—			3			1			1
Net actuarial loss	3			16			22			3			2			3
Curtailment, settlement and termination costs	60			—			—			66			—			—
Total (income) expense	$	55		$	(6)		$	(9)		$	79		$	9		$	11
Assumptions
Weighted average assumption used to calculate net periodic cost:
Effective discount rate for benefit obligations	5.34		%	2.64		%	2.16		%	4.07		%	1.61		%	1.22		%
Effective rate for interest on benefit obligations	5.23		%	2.13		%	1.54		%	4.00		%	1.46		%	0.92		%
Effective rate for service cost	—		%	2.94		%	2.63		%	3.20		%	0.96		%	0.71		%
Effective rate for interest on service cost	—		%	2.97		%	2.61		%	3.06		%	0.78		%	0.54		%
Long-term rate of return on plan assets	5.88		%	4.75		%	5.25		%	3.61		%	1.06		%	0.51		%
Long-term rate of compensation increase	3.00		%	3.00		%	3.00		%	2.41		%	2.27		%	2.18		%


	Postretirement Benefits
	2023			2022			2021

Interest cost	$	1		$	1		$	1
Amortization:

Net actuarial gain	(6)			(5)			(3)
Total income	$	(5)		$	(4)		$	(2)

Assumptions
Weighted average assumption used to calculate net periodic cost:
Effective discount rate for benefit obligations	5.11		%	2.34		%	1.80		%
Effective rate for interest on benefit obligations	5.04		%	1.77		%	1.18		%
Effective rate for service cost	4.97		%	1.98		%	1.32		%
Effective rate for interest on service cost	4.90		%	1.67		%	1.02		%

The components of net periodic pension and postretirement costs other than the service cost component are included in other (income) expense, net in the Consolidated Statements of Operations.

Plan Assets

The Company employs a total return investment approach for its pension plans whereby a mix of equities and fixed income investments are used to optimize the long-term return of pension plan assets. The intent of this strategy is to minimize plan expenses by outperforming plan liabilities over the long run. Risk tolerance is established through careful consideration of plan liabilities, plan funded status, and the Company’s financial condition. The domestic investment portfolios contain a diversified blend of equity and fixed-income investments. The domestic equity investments are diversified across geography and market capitalization through investments in U.S. large-capitalization stocks, U.S. small-capitalization stocks and international securities. The domestic fixed income investments are primarily comprised of investment-grade and high-yield securities through investments in corporate and government bonds, government agencies and asset-backed securities. The Level 1 investments are primarily based upon quoted market prices. The domestic Level 3 investments are primarily comprised of insurance contracts valued at contract value. The investments excluded from the fair value hierarchy are net asset value-based (“NAV-based”) hedge fund investments that generally have a redemption frequency of 90 days or less, with various redemption notice periods that are generally less than a month. The notice periods for certain investments may vary based on the size of the redemption. The international Level 2 investments are primarily comprised of insurance contracts whose fair values are estimated based on the future cash flows to be received under the contracts discounted to the present using a discount rate that approximates the discount rate used to measure the associated pension plan liabilities. The international Level 3 investments are primarily comprised of insurance contracts valued at contract value. Investment risk is measured and monitored on an ongoing basis through annual liability measurements, periodic asset/liability studies and quarterly investment portfolio reviews.

The expected long-term rate of return for plan assets is based upon many factors, including expected asset allocations, historical asset returns, current and expected future market conditions, risk and active management premiums. The expected long-term rate of return is adjusted when there are fundamental changes in expected returns on the Company’s defined benefit pension plan’s investments. The target asset allocations for the Company’s domestic pension plans may vary by plan, based in part on plan demographics, funded status and liability duration. In general, the Company’s target asset allocations are as follows: equities approximately zero to 20%; fixed income approximately 80% to 100%; and cash, alternative investments and other, approximately zero to 10% at December 31, 2023. Actual asset allocations may vary from the targeted allocations for various reasons, including market conditions and the timing of transactions. The Company maintains numerous international defined benefit pension plans. The asset allocations for the international investment may vary by plan and jurisdiction and are primarily based upon the plan structure and plan participant profile.

The composition of domestic pension plan assets at December 31, 2023 and 2022 is as follows (in millions):


	Plan Assets — Domestic Plans
	December 31, 2023
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total

Equity securities and funds	$	—	$	—	$	—	$	—	$	70	$	70
Fixed income securities and funds	250		—		—		250		329		579
Alternative investments	—		—		—		—		2		2
Cash and other	15		2		—		17		—		17
Total	$	265	$	2	$	—	$	267	$	401	$	668

	Plan Assets — Domestic Plans
	December 31, 2022
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total

Equity securities and funds	$	—	$	—	$	—	$	—	$	158	$	158
Fixed income securities and funds	369		—		—		369		303		672
Alternative investments	—		—		—		—		2		2
Cash and other	8		3		—		11		—		11
Total	$	377	$	3	$	—	$	380	$	463	$	843

The composition of international pension plan assets at December 31, 2023 and 2022 is as follows (in millions):


	Plan Assets — International Plans
	December 31, 2023
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total
Equity securities and funds	$	3	$	4	$	—	$	7	$	—	$	7
Fixed income securities and funds	4		6		—		10		—		10
Cash and other	4		145		10		159		—		159
Total	$	11	$	155	$	10	$	176	$	—	$	176

	Plan Assets — International Plans
	December 31, 2022
	Fair Value Measurements
Asset Category	Level 1		Level 2		Level 3		Subtotal		NAV-based assets		Total
Equity securities and funds	$	3	$	3	$	—	$	6	$	—	$	6
Fixed income securities and funds	6		5		—		11		—		11
Cash and other	3		140		194		337		—		337
Total	$	12	$	148	$	194	$	354	$	—	$	354

A reconciliation of the change in fair value of the defined benefit plans’ assets using significant unobservable inputs (Level 3) for 2023 and 2022 is as follows (in millions):


	Total
Balance at December 31, 2021	$	9

Unrealized losses	(101)
Purchases, sales, settlements and other, net	286
Balance at December 31, 2022	194


Purchases, sales, settlements and other, net	(184)
Balance at December 31, 2023	$	10

Contributions and Estimated Future Benefit Payments

During 2024, the Company expects to make cash contributions of approximately $15 million and $9 million to its domestic and international defined benefit plans, respectively.

Estimated future benefit payments under the Company’s defined benefit pension plans and postretirement benefit plans are as follows at December 31, 2023 (in millions):


	2024		2025		2026		2027		2028		Thereafter
Pension benefits	$	79	$	76	$	75	$	77	$	75	$	357
Postretirement benefits	4		4		4		3		3		9

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Litigation and Contingencies (Details) $ in Millions			1 Months Ended			12 Months Ended
Litigation and Contingencies (Details) $ in Millions	Sep. 29, 2023 USD ($)	Dec. 30, 2020 shareholder	Oct. 31, 2021 USD ($) mi	Jun. 30, 2018 party defendant	Sep. 30, 2017 recipient	Dec. 31, 2023 USD ($) unit entity mi	Sep. 30, 2022 USD ($)
Loss Contingencies [Line Items]
Settlement agreement, accrued							$ 103
Environmental remediation costs, estimate						$ 41
Number of general notice letter recipients \| entity						100
Number of operable units \| unit						4
Miles of river included in the remedial investigation and feasibility study \| mi			9
Loss contingency, estimate of possible loss			$ 441
Number of parties sued (in parties) \| party				100
Number of defendants \| defendant				42
Standby letters of credit outstanding						$ 38
Lower Half of River
Loss Contingencies [Line Items]
Miles of river included in the remedial investigation and feasibility study \| mi						17
Lower Passaic River Matter
Loss Contingencies [Line Items]
Miles of river included in the remedial investigation and feasibility study \| mi						8.3
Number of general notice letter recipients involved in remedial investigation and feasibility study \| recipient					80
Lower Passaic River Matter Selected Remedy for Preferred Alternative
Loss Contingencies [Line Items]
Settlement amount						$ 1,400
Weber Et Al V Polk Et Al \| Pending Litigation
Loss Contingencies [Line Items]
Number of plaintiffs \| shareholder		2
Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Civil penalty	$ 13

Leases - Schedule Of Supplemental Cash Flow Related To Leases (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 162	$ 160	$ 163
Financing cash flows from finance leases	0	3	4
Right of use assets obtained in exchange for lease liabilities:
Operating leases	$ 46	$ 135	$ 144

Segment Information - Additional Information (Detail) - segment	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Sales Information [Line Items]
Number of operating segments	3
Walmart Inc. and Subsidiaries \| Revenue from Contract with Customer \| Customer Concentration Risk
Sales Information [Line Items]
Percentage of sales by major customer	15.00%	14.00%	15.00%
Amazon \| Revenue from Contract with Customer \| Customer Concentration Risk
Sales Information [Line Items]
Percentage of sales by major customer	13.00%	13.00%	13.00%

Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

A summary of changes in the Company’s goodwill by reportable business segment is as follows for 2023 and 2022 (in millions):


							December 31, 2023
Segments:	Net Book Value at December 31, 2022		Impairment Charges		Foreign Exchange		Gross Carrying Amount		Accumulated Impairment Charges		Net Book Value
Home and Commercial Solutions	$	747	$	—	$	—	$	4,052	$	(3,305)	$	747
Learning and Development	2,551		(241)		14		3,411		(1,087)		2,324
Outdoor and Recreation	—		—		—		788		(788)		—
	$	3,298	$	(241)	$	14	$	8,251	$	(5,180)	$	3,071


							December 31, 2022
Segments:	Net Book Value at December 31, 2021		Impairment Charges		Foreign Exchange		Gross Carrying Amount		Accumulated Impairment Charges		Net Book Value
Home and Commercial Solutions	$	911	$	(164)	$	—	$	4,052	$	(3,305)	$	747
Learning and Development	2,593		—		(42)		3,397		(846)		2,551
Outdoor and Recreation	—		—		—		788		(788)		—
	$	3,504	$	(164)	$	(42)	$	8,237	$	(4,939)	$	3,298

During the fourth quarter of 2022, in conjunction with its annual impairment testing, the Company recorded a non-cash impairment charge to write-off the remaining $56 million of goodwill for its Home Fragrance reporting unit, in the Home and Commercial Solutions segment as the carrying value exceeded its fair value. This impairment reflected a further downward revision to the forecasted cash flows used in connection with the third quarter triggering event assessment, driven by inflationary pressures which continue to impact discretionary spending behavior of consumers at higher rates than previously expected.

During the third quarter of 2022, the Company concluded that a triggering event had occurred for its Home Fragrance reporting unit, in the Home and Commercial Solutions segment, as a result of a downward revision of forecasted cash flows due to softening global demand, as retailers significantly pulled back on orders in an effort to rebalance inventory, and rising interest rates. The decline in global demand is driven primarily by inflationary pressures which are impacting the discretionary spending behavior of consumers. The Company performed a quantitative impairment test and determined that the Home Fragrance reporting unit goodwill was impaired and recorded a non-cash impairment charge of $108 million, as the carrying value of the reporting unit exceeded its fair value.

The impairment charges for indefinite-lived tradenames were recorded in the Company’s reporting segments as follows for the years ended December 31, (in millions):


	2023 (1)		2022 (2)		2021 (3)
Impairment of indefinite-lived tradenames
Home and Commercial Solutions	$	76	$	280	$	29
Learning and Development	—		30		31
Outdoor and Recreation	22		—		—
	$	98	$	310	$	60

(1)During the fourth quarter of 2023, in conjunction with its annual impairment testing, the Company recorded a non-cash impairment charge of $68 million associated with two tradenames in the Home and Commercial Solutions segment, as the carrying values exceeded the fair values. The decline in the fair values of the tradenames in the Home and Commercial Solutions segment were due to current market contraction, reflecting a reset of demand levels. During the third quarter of 2023, the Company concluded that a triggering event had occurred for an indefinite-lived tradename in the Outdoor and Recreation segment, as a result of a downward revision of forecasted cash flows due to market conditions, as well as rising interest rates. The Company performed a quantitative impairment test and determined that the indefinite-lived tradename in the Outdoor and Recreation segment was impaired. During the third quarter of 2023, the Company recorded a non-cash impairment charge of $22 million for the indefinite-lived tradename in the Outdoor and Recreation segment, as the carrying value of the tradename exceeded its fair value. During the second quarter of 2023, the Company concluded that a triggering event had occurred for indefinite-lived tradename in the Home Fragrance reporting unit in the Home and Commercial Solutions segment as a result of a downward revision of forecasted cash flows due to softening global demand, primarily caused by continued inflationary pressure that is impacting discretionary spending behavior of consumers, as well as rising interest rates. The Company performed a quantitative impairment test and determined that the indefinite-lived tradename in the Home and Commercial Solutions segment was impaired. During the second quarter of 2023, the Company recorded a non-cash impairment charge of $8 million, as the carrying value of the tradename exceeded its fair value.

(2)During the fourth quarter of 2022, in conjunction with its annual impairment testing, the Company recorded aggregate non-cash impairment charges of $270 million associated with two tradenames in the Home and Commercial Solutions segment and one tradename in the Learning and Development segment, as the carrying values exceeded their fair values. The decline in fair values for one tradename in the Home and Commercial Solutions segment and the tradename in the Learning and Development segment reflected a further downward revision to the forecasted cash flows used in connection with the third quarter triggering event assessment, driven by inflationary pressures which are impacting discretionary spending behavior of consumers at higher rates than previously expected, including higher than expected overhead costs. The decline in fair value for the remaining tradename in the Home and Commercial Solutions segment reflected a change in management's assumptions, including the timing of a labor shortage recovery in a certain international market, which negatively impacted the long-term profitability estimates used to develop the forecasted cash flow projections for the annual impairment test. During the third quarter of 2022, the Company concluded that a triggering event had occurred for two indefinite-lived tradenames in the Home and Commercial Solutions segment, as a result of a downward revision of forecasted cash flows due to softening global demand, as retailers significantly pulled back on orders in an effort to rebalance inventory and rising interest rates. The decline in global demand is driven primarily by inflationary pressures which are impacting the discretionary spending behavior of consumers. The Company also concluded that a triggering event had occurred for two indefinite-lived tradenames in the Learning and Development segment, as a result of rising interest rates and inflationary pressures. The Company performed a quantitative impairment test and determined that the indefinite-lived tradenames in the Home and Commercial Solutions segment and two indefinite-lived tradenames in the Learning and Development segment were impaired. During the third quarter of 2022, the Company recorded an aggregate non-cash impairment charge of $40 million, as the carrying values of these tradenames exceeded their fair values.

(3)During the fourth quarter of 2021, in conjunction with its annual impairment testing, the Company recorded non-cash impairment charges of $60 million associated with two tradenames in the Home and Commercial Solutions and Learning and Development segments, as the carrying values exceeded their fair values, reflecting a downward revision of future expected cash flows, which include the impact of the COVID-19 global pandemic.

The table below summarizes the balance of other intangible assets, net and the related amortization periods using the straight-line method and attribution method at December 31, 2023 and 2022 (in millions):


	December 31, 2023						December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value		Amortization Periods (In years)
Tradenames - indefinite life (1)	$	1,535	$	—	$	1,535	$	1,689	$	—	$	1,689	N/A
Tradenames - other (1)	232		(105)		127		160		(79)		81		2-15
Capitalized software	628		(512)		116		602		(481)		121		3-12
Patents and intellectual property	22		(20)		2		22		(17)		5		3-14
Customer relationships and distributor channels	1,078		(370)		708		1,072		(319)		753		3-30

	$	3,495	$	(1,007)	$	2,488	$	3,545	$	(896)	$	2,649

(1)In connection with the operating model changes associated with Project Phoenix, the Company determined that six tradenames with aggregate carrying values of $70 million no longer met indefinite-lived criteria and were reclassified during the first quarter of 2023 as finite-lived tradenames with useful lives ranging from five to ten years.

Amortization expense for intangible assets was $109 million, $100 million and $120 million in 2023, 2022 and 2021, respectively.

At December 31, 2023, the aggregate estimated intangible amortization amounts for the succeeding five years are as follows (in millions):


Years ending December 31,	Amount
2024	$	107
2025	95
2026	80
2027	72
2028	61
Thereafter	538

The Company continues to evaluate its brand strategy including the assessment of indefinite-lived criteria which may impact the future estimated intangible amortization.

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Atlanta, Georgia
Auditor Firm ID	238

Derivatives and Foreign Currency Operations - Schedule of Pretax Effects of Derivative Financial Instruments Designated or Previously Designated as Effective Hedges (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in OCI	$ (101)	$ 45	$ 83
Reclassified from AOCL to Income	(5)	21	(23)
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in OCI	0	0	0
Reclassified from AOCL to Income	(5)	(6)	(6)
Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in OCI	(21)	24	14
Reclassified from AOCL to Income	0	27	(17)
Cross-currency Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in OCI	(80)	21	69
Reclassified from AOCL to Income	$ 0	$ 0	$ 0

Accumulated Other Comprehensive Income (Loss) - Schedule of Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 3,519	$ 4,158	$ 3,917
Total other comprehensive income (loss), net of tax	121	(129)	(2)
Ending balance	3,112	3,519	4,158
Cumulative Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(688)	(575)
Other comprehensive income (loss) before reclassifications	9	(119)
Amounts reclassified to earnings	11	6
Total other comprehensive income (loss), net of tax	20	(113)
Ending balance	(668)	(688)	(575)
Pension and Postretirement Cost
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(309)	(292)
Other comprehensive income (loss) before reclassifications	18	(25)
Amounts reclassified to earnings	95	8
Total other comprehensive income (loss), net of tax	113	(17)
Ending balance	(196)	(309)	(292)
Derivative Financial Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(14)	(15)
Other comprehensive income (loss) before reclassifications	(16)	20
Amounts reclassified to earnings	4	(19)
Total other comprehensive income (loss), net of tax	(12)	1
Ending balance	(26)	(14)	(15)
AOCL
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,011)	(882)	(880)
Other comprehensive income (loss) before reclassifications	11	(124)
Amounts reclassified to earnings	110	(5)
Total other comprehensive income (loss), net of tax	121	(129)
Ending balance	$ (890)	$ (1,011)	$ (882)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 41: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-15

Reference 42: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-16

Reference 43: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4I

+ Details

Inventories - Components of Net Inventories (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 214	$ 285
Work-in-process	173	218
Finished products	1,144	1,700
Total inventories	$ 1,531	$ 2,203

Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The Company’s three primary operating segments are as follows:

Segment

Key Brands

Description of Primary Products

Home and Commercial Solutions

Ball(1), Calphalon, Crockpot, FoodSaver, Mapa, Mr. Coffee, Oster, Rubbermaid, Rubbermaid Commercial Products, Sistema, Spontex, Sunbeam, WoodWick and Yankee Candle

Learning and Development

Dymo, Elmer’s, EXPO, Graco, NUK, Paper Mate, Parker and Sharpie

Baby gear and infant care products; writing instruments, including markers and highlighters, pens and pencils; art products; activity-based products and labeling solutions

Outdoor and Recreation

Campingaz, Coleman, Contigo and Marmot

Active lifestyle products for outdoor and outdoor-related activities; technical apparel and on-the-go beverageware

(1)

and Ball®, TM of Ball Corporation, used under license.

The Company’s segment and geographic results are as follows at and for the years ended December 31, (in millions):


	2023		2022		2021
Net sales (1)
Home and Commercial Solutions (3)	$	4,428	$	5,194	$	6,077
Learning and Development	2,706		2,950		3,028
Outdoor and Recreation	999		1,315		1,484
	$	8,133	$	9,459	$	10,589


	2023		2022		2021
Operating income (loss) (2)
Home and Commercial Solutions (3)	$	37	$	(212)	$	566
Learning and Development	213		593		600
Outdoor and Recreation	(83)		86		90
Corporate	(252)		(155)		(243)
	$	(85)	$	312	$	1,013


	2023		2022		2021
Depreciation and amortization
Home and Commercial Solutions (3)	$	163	$	145	$	169
Learning and Development	71		60		57
Outdoor and Recreation	35		34		35
Corporate	65		57		64
	$	334	$	296	$	325


	2023		2022		2021
Impairment of goodwill and intangible assets
Home and Commercial Solutions (3)	$	76	$	444	$	29
Learning and Development	241		30		31
Outdoor and Recreation	22		—		—

	$	339	$	474	$	60


	2023		2022		2021
Capital expenditures
Home and Commercial Solutions (3)	$	93	$	107	$	131
Learning and Development	60		70		73
Outdoor and Recreation	16		21		24
Corporate	115		114		61
	$	284	$	312	$	289


	December 31, 2023		December 31, 2022
Segment assets
Home and Commercial Solutions	$	4,713	$	5,243
Learning and Development	4,111		4,494
Outdoor and Recreation	687		920
Corporate	2,652		2,605
	$	12,163	$	13,262

Schedule of Geographic Area Information


Geographic area information
	2023		2022		2021
Net Sales (1) (4)
United States	$	5,129	$	6,144	$	6,921
Canada	313		375		444
Total North America	5,442		6,519		7,365
Europe, Middle East and Africa	1,283		1,408		1,647
Latin America	863		837		810
Asia Pacific	545		695		767
Total International	2,691		2,940		3,224
	$	8,133	$	9,459	$	10,589

(1)All intercompany transactions have been eliminated.

(4)Geographic sales information is based on the region from which the products are shipped and invoiced. Long-lived assets by geography are not presented because it is impracticable to do so.

Schedule of Disaggregation of Revenue by Major Product Grouping Source and Geography

The following table disaggregates revenue by major product grouping source and geography for the years ended December 31, (in millions):


		2023		2022		2021
	Commercial	$	1,434	$	1,582	$	1,558
	Kitchen	2,244		2,618		3,033
	Home Fragrance	750		885		1,091
	Connected Home and Security	—		109		395
Home and Commercial Solutions		4,428		5,194		6,077

	Baby	989		1,197		1,265
	Writing	1,717		1,753		1,763
Learning and Development		2,706		2,950		3,028

Outdoor and Recreation		999		1,315		1,484

		$	8,133	$	9,459	$	10,589

North America
	Home and Commercial Solutions	$	2,942	$	3,625	$	4,319
	Learning and Development	1,937		2,156		2,172
	Outdoor and Recreation	563		738		874
		$	5,442	$	6,519	$	7,365

International
	Home and Commercial Solutions	$	1,486	$	1,569	$	1,758
	Learning and Development	769		794		856
	Outdoor and Recreation	436		577		610
		$	2,691	$	2,940	$	3,224

TOTAL
	Home and Commercial Solutions	$	4,428	$	5,194	$	6,077
	Learning and Development	2,706		2,950		3,028
	Outdoor and Recreation	999		1,315		1,484
		$	8,133	$	9,459	$	10,589

Restructuring

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring

The Company has engaged and expects to continue to engage in restructuring activities, which requires management to utilize significant estimates related to the timing and amount of severance and other employee separation costs for workforce reductions and other separation programs and other exit costs associated with restructuring activities. The Company’s accrual for severance and other employee separation costs depends on whether the costs result from an ongoing severance plan or are one-time costs. The Company accounts for relevant expenses as severance costs when we have an established severance policy, statutory requirements dictate the severance amounts, or if our historical experience is to routinely provide certain benefits to impacted employees. The Company recognizes severance costs when it is probable that benefits will be paid and the amount can be reasonably estimated. The Company estimates one-time severance and other employee costs related to exit and disposal activities not resulting from an ongoing severance plan based on the benefits available to the employees being terminated. The Company recognizes these costs when we identify the specific classification or functions of the employees being terminated, notify the employees who might be included in the termination, and expect to terminate employees within the legally required notification period. When employees are receiving incentives to stay beyond the legally required notification period, we record the cost of their severance over the remaining service period.

Restructuring costs incurred by reportable business segment for all restructuring activities for the years ended December 31, are as follows (in millions):


	2023		2022		2021
Home and Commercial Solutions	$	50	$	5	$	11
Learning and Development	18		4		1
Outdoor and Recreation	11		5		3
Corporate	16		1		1
	$	95	$	15	$	16

Accrued restructuring costs activity for the year ended December 31, 2023 are as follows (in millions):


	Balance at December 31, 2022		Restructuring Costs, Net		Payments		Foreign Currency and Other		Balance at December 31, 2023
Severance and termination costs	$	7	$	89	$	(66)	$	—	$	30
Contract termination and other costs	—		6		(5)		(1)		—
	$	7	$	95	$	(71)	$	(1)	$	30

Accrued restructuring costs activity for the year ended December 31, 2022 are as follows (in millions):


	Balance at December 31, 2021		Restructuring Costs, Net		Payments		Balance at December 31, 2022
Severance and termination costs	$	8	$	13	$	(14)	$	7
Contract termination and other costs	2		2		(4)		—
	$	10	$	15	$	(18)	$	7

Project Phoenix

In January 2023, the Company announced a restructuring and savings initiative (“Project Phoenix”) that was intended to strengthen the Company by leveraging its scale to further reduce complexity, streamlining its operating model and driving operational efficiencies. Project Phoenix was substantially implemented by the end of 2023 and incorporated a variety of initiatives designed to simplify the organizational structure, streamline the Company’s real estate portfolio, centralize the Company’s supply chain functions, which include manufacturing, distribution, transportation and customer service, transition to a unified One Newell go-to-

market model in key international geographies, and otherwise reduce overhead costs. The Company estimates that it will incur approximately $100 million to $130 million in restructuring and restructuring-related charges in connection with Project Phoenix, substantially all of which was incurred by the end of 2023. These charges consist primarily of $80 million to $105 million in charges related to severance payments and other termination benefits; $15 million to $20 million in charges associated with office space reductions; and approximately $5 million of other charges, including those associated with employee transition and legal costs. The Company expects approximately $95 million to $120 million of the total aggregate charges will be cash expenditures. The Company commenced reducing headcount in the first quarter of 2023, and while the program is mostly complete, charges will continue to be recognized as the Company completes remaining actions, in accordance with local regulations and consultation requirements. All cash payments are expected to be paid within one year of charges incurred.

During the year ended December 31, 2023, the Company recorded restructuring charges of $78 million in connection with Project Phoenix. See Recent Developments in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations for further information.

Network Optimization Project

In May 2023, the Company announced a restructuring and savings initiative that is intended to simplify and streamline its North American distribution network (the “Network Optimization Project”) in order to improve the Company’s cost structure and operating margins while maintaining focus on customer and consumer fulfillment. The Company initiated implementation of the Network Optimization Project during the second quarter of 2023 and expects it to be substantially implemented by the end of fiscal year 2024. The Network Optimization Project incorporates a variety of initiatives, including a reduction in the overall number of distribution centers, an optimization of distribution by location, and completion of select automation investments intended to further streamline the Company’s cost structure and to maximize operating performance. The Company currently estimates that it will incur approximately $37 million to $49 million in restructuring and restructuring-related charges associated with execution of the Network Optimization Project and expects that the costs incurred will be substantially complete by the end of 2024. This estimate of charges consists primarily of $8 million to $11 million related to cash severance payments and other termination benefits and approximately $29 million to $38 million associated with industrial site reductions. The Company expects approximately $35 million to $44 million of the total aggregate charges will be cash expenditures.

During the year ended December 31, 2023, the Company recorded restructuring charges of $7 million in connection with the Network Optimization Project. See Recent Developments in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations for further information.

Other Restructuring and Restructuring-Related Costs

The Company regularly incurs other restructuring and restructuring-related costs in connection with various discrete initiatives, including certain costs associated with the 2020 Restructuring Plan, which was designed to reduce overhead costs and streamline certain underperforming operations and was completed at the end of 2021 and Project Ovid, the multi-year, customer centric supply chain initiative to transform the Company’s go-to-market capabilities in the U.S., improve customer service levels and drive operational efficiencies. During the years ended December 31, 2023, 2022 and 2021, the Company recorded other restructuring charges of $10 million, $15 million and $16 million, respectively.

Restructuring-related costs are recorded in cost of products sold and SG&A in the Consolidated Statements of Operations based on the nature of the underlying costs incurred.

Realignment Plan

In January 2024, the Company announced an organizational realignment, which is expected to strengthen the Company’s front-end commercial capabilities, such as consumer understanding and brand communication, in support of the “where to play” and “how to win” strategies the Company unveiled in June of 2023. In addition to improving accountability, the Company’s organizational realignment is designed to unlock operational efficiencies and cost savings, reduce complexity and free up funds for reinvestment. As part of the organizational realignment, the Company is making several operating model changes, which entail: standing up a cross-functional brand management organization, realigning business unit finance to fully support the new global brand management model, further simplifying and standardizing regional go-to-market organizations, and centralizing domestic retail sales teams, the digital technology team, business-aligned accounting personnel, the Manufacturing Quality team, and the Human Resources functions into the appropriate center-led teams to drive standardization, efficiency and scale with a One Newell approach. The Company will also further optimize the Company’s real estate footprint and pursue other cost reduction initiatives. These actions are expected to be substantially implemented by the end of 2024, subject to local law and consultation requirements. Restructuring and restructuring-related charges associated with these actions are estimated to be in the range of $75 million to $90 million and are expected to be substantially incurred by the end of 2024.

Basis of Presentation and Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Significant Accounting Policies

Description of Business

Newell Brands is a leading global consumer goods company with a strong portfolio of well-known brands, including Rubbermaid, Sharpie, Graco, Coleman, Rubbermaid Commercial Products, Yankee Candle, Paper Mate, FoodSaver, Dymo, EXPO, Elmer’s, Oster, NUK, Spontex and Campingaz. Newell Brands is focused on delighting consumers by lighting up everyday moments. The Company sells its products in over 150 countries around the world and has operations on the ground in over 40 of these countries, excluding third-party distributors.

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and include the consolidated accounts of the Company and its majority-owned subsidiaries after elimination of intercompany transactions and balances.

The preparation of these consolidated financial statements requires the use of certain estimates and assumptions by management in determining the Company’s assets, liabilities, sales and expenses, and related disclosures. Significant estimates in these Consolidated Financial Statements include restructuring charges, estimates of future cash flows associated with asset impairments, useful lives for depreciation and amortization, loss contingencies (including legal, environmental and product liability reserves), net realizable value of inventories, estimated contract revenue and related variable consideration, capitalized software costs, income taxes, uncertain tax provisions, tax valuation allowances, and pension and postretirement employee benefit liabilities and expenses. Actual results could differ from those estimates. Certain prior year amounts have been reclassified to conform to the current year presentation.

Effective January 1, 2023, as a result of the implementation of a new operating model intended to drive further simplification and unlock additional efficiencies and synergies within the Company, the chief operating decision maker (the “CODM”) now reviews the businesses as three operating segments: Home and Commercial Solutions, Learning and Development and Outdoor and Recreation. The Home and Commercial Solutions operating segment represents the combination of the previously reported Commercial Solutions, Home Appliances and Home Solutions operating segments. Prior period comparable results have been reclassified to conform to the operating segment change. See Footnote 17 for more information.

On March 31, 2022, the Company sold its Connected Home and Security (“CH&S”) business to Resideo Technologies, Inc. The results of operations for CH&S continued to be reported in the Consolidated Statement of Operations as part of the Home and Commercial Solutions segment through March 31, 2022. See Footnotes 2 and 17 for more information.

Use of Estimates and Risks

Management’s application of U.S. GAAP in preparing the Company’s consolidated financial statements requires the pervasive use of estimates and assumptions. The Company continues to be impacted by inflationary pressures, soft global demand, focus by major retailers on the rebalancing of inventory levels, rising interest rates and indirect macroeconomic impacts from geopolitical conflicts. These collective macroeconomic trends, the duration or severity of which are highly uncertain, are rapidly changing the retail and consumer landscape and negatively impact the Company’s operating results, cash flows and financial condition in 2023 and are expected to persist into 2024. As consumers continue to face widespread increases in prices and interest rates, their discretionary spending and purchase patterns may continue to be unfavorably impacted. The high level of uncertainty of these factors has resulted in estimates and assumptions that have the potential for more variability and are more subjective. In addition, some of the other inherent estimates and assumptions used in the Company’s forecasted results of operations and cash flows that form the basis of the determination of the fair value of the reporting units for goodwill and indefinite-lived intangible asset impairment testing are outside the control of management, including interest rates, cost of capital, tax rates, industry growth, credit ratings, foreign exchange rates and labor inflation. Although management has made its best estimates and assumptions based upon current information, actual results could materially differ given the uncertainty of these factors and may require future changes to such estimates and assumptions, including reserves, which may result in future expense or impairment charges.

During the fourth quarter of 2023, in conjunction with the Company’s annual impairment testing, the Company recorded a non-cash impairment charge of $68 million related to two tradenames in the Home and Commercial Solutions segment as the carrying values exceeded the fair values. A quantitative impairment test was also performed for the Company’s long-lived assets resulting in no impairment.

During the third quarter of 2023, the Company concluded that a triggering event had occurred for the goodwill associated with the Baby reporting unit in the Learning and Development segment, as a result of a downward revision of forecasted cash flows due to lower volume and profitability expectations, as well as rising interest rates, and for an indefinite-lived tradename in the Outdoor and Recreation segment, as a result of a downward revision of forecasted cash flows due to market conditions, as well as rising interest rates. The Company performed a quantitative impairment test and determined that the Baby reporting unit goodwill and the indefinite-lived tradename in the Outdoor and Recreation segment were impaired. During the third quarter of 2023, the Company recorded a non-cash impairment charge of $241 million for the Baby reporting unit goodwill and $22 million for the indefinite-lived tradename in the Outdoor and Recreation segment, as the carrying values exceeded their fair values.

During the second quarter of 2023, the Company concluded that a triggering event had occurred for an indefinite-lived tradename in the Home Fragrance reporting unit in the Home and Commercial Solutions segment and for the goodwill associated with the Baby reporting unit in the Learning and Development segment, as a result of a downward revision of forecasted cash flows due to softening global demand, primarily caused by continued inflationary pressure that is impacting discretionary spending behavior of consumers, as well as rising interest rates. The Company performed a quantitative impairment test and determined that the indefinite-lived tradename in the Home and Commercial Solutions segment was impaired. During the second quarter of 2023, the Company recorded a non-cash impairment charge of $8 million, as the carrying value of the tradename exceeded its fair value. The Company concluded that the Baby reporting unit goodwill was not impaired during the second quarter of 2023.

See Footnote 7 for further information.

Significant Accounting Policies

Concentration of Credit Risk

The Company’s forward exchange contracts generally do not subject the Company to risk due to foreign exchange rate movement, because gains and losses on these instruments generally offset gains and losses on the assets, liabilities and other transactions being hedged. The Company is exposed to credit-related losses in the event of non-performance by counterparties to certain derivative financial instruments. The Company does not obtain collateral or other security to support derivative financial instruments subject to credit risk, but monitors the credit standing of its counterparties.

Revenue Recognition

The Company recognizes revenue when performance obligations under the terms of a contract with the customer are satisfied or at a point in time, which generally occurs either on shipment or on delivery based on contractual terms, which is also when control is transferred. The Company’s primary performance obligation is the distribution and sales of its consumer and commercial products to its customers. In the normal course of business, the Company offers warranties for a variety of its products. The specific terms and conditions of the warranties vary depending upon the specific product and markets in which the products were sold. The Company accrues for the estimated cost of product warranty at the time of sale based on historical experience.

Revenue is measured as the amount of consideration for which the Company expects to be entitled in exchange for transferring goods or providing services. Certain customers may receive cash and/or non-cash incentives such as cash discounts, returns, credits or reimbursements related to defective products, customer discounts (such as volume or trade discounts), cooperative advertising and other customer-related programs, which are accounted for as variable consideration. In some cases, the Company applies judgment, including contractual rates and historical payment trends, when estimating variable consideration. In addition, the Company participates in various programs and arrangements with customers designed to increase the sale of products by these customers. Among the programs negotiated are arrangements under which allowances are earned by customers for attaining agreed-upon sales levels or for participating in specific marketing programs. Coupon programs are also developed on a customer- and territory-specific basis.

Under customer programs and arrangements that require sales incentives to be paid in advance, the Company amortizes the amount paid over the period of benefit or contractual sales volume. When incentives are paid in arrears, the Company accrues the estimated amount to be paid based on the program’s contractual terms, expected customer performance and/or estimated sales volume. These estimates are determined using historical customer experience and other factors, which sometimes require significant judgment. Due to the length of time necessary to obtain relevant data from customers, among other factors, actual amounts paid can differ from these estimates.

Sales taxes and other similar taxes are excluded from revenue. The Company elected to account for shipping and handling activities as a fulfillment cost. The Company also elected not to disclose the value of unsatisfied performance obligations for (i) contracts with

an original expected length of one year or less and (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed.

Goodwill and Indefinite-Lived Intangibles

Goodwill and indefinite-lived intangibles are tested and reviewed for impairment annually during the fourth quarter (on December 1), or more frequently if facts and circumstances warrant.

Goodwill

Goodwill is tested for impairment at a reporting unit level, and all of the Company’s goodwill is assigned to its reporting units. Reporting units are determined based upon the Company’s organizational structure in place at the date of the goodwill impairment testing and generally one level below the operating segment level. The Company’s operations are comprised of six reporting units, within its three primary operating segments.

The Company may use a qualitative approach, and when appropriate, has bypassed the qualitative and used a quantitative approach, which involves comparing the fair value of each of the reporting units to the carrying value of those reporting units. If the carrying value of a reporting unit exceeds its fair value, an impairment loss would be calculated as the difference between these amounts, limited to the amount of reporting unit goodwill allocated to the reporting unit.

The quantitative goodwill impairment testing requires significant use of judgment and assumptions, such as the identification of reporting units; the assignment of assets and liabilities to reporting units; and the estimation of future cash flows, business growth rates, terminal values, discount rates and total enterprise value. The income approach used is the discounted cash flow methodology and is based on five-year cash flow projections. The cash flows projected are analyzed on a debt-free basis (before cash payments to equity and interest-bearing debt investors) in order to develop an enterprise value from operations for the reporting unit. A provision is made, based on these projections, for the value of the reporting unit at the end of the forecast period, or terminal value. The present value of the finite-period cash flows and the terminal value are determined using a selected discount rate.

Indefinite-lived intangibles

The testing of indefinite-lived intangibles (primarily trademarks and tradenames) under established guidelines for impairment also requires significant use of judgment and assumptions (such as cash flow projections, royalty rates, terminal values and discount rates). An indefinite-lived intangible asset is impaired by the amount by which its carrying value exceeds its estimated fair value. For impairment testing purposes, the fair value of indefinite-lived intangibles is determined using either the relief from royalty method or the excess earnings method. The relief from royalty method estimates the value of a tradename by discounting the hypothetical avoided royalty payments to their present value over the economic life of the asset. The excess earnings method estimates the value of the intangible asset by quantifying the residual (or excess) cash flows generated by the asset and discounts those cash flows to the present. The excess earnings methodology requires the application of contributory asset charges. Contributory asset charges typically include assumed payments for the use of working capital, tangible assets and other intangible assets. Changes in forecasted operations and other assumptions could materially affect the estimated fair values. Changes in business conditions could potentially require adjustments to these asset valuations.

Other Long-Lived Assets

The Company continuously evaluates whether impairment indicators related to its property, plant and equipment, operating leases and other long-lived assets are present. These impairment indicators may include a significant decrease in the market price of a long-lived asset or asset group, early termination of an operating lease, a significant adverse change to the extent or manner in which a long-lived asset or asset group is being used or in its physical condition, or a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group. If impairment indicators are present, the Company estimates the future cash flows for the asset or group of assets. The sum of the undiscounted future cash flows attributable to the asset or group of assets is compared to their carrying amount. The cash flows are estimated utilizing various assumptions regarding future sales and expenses, working capital and proceeds from asset disposals on a basis consistent with the Company’s forecasts. If the carrying amount exceeds the sum of the undiscounted future cash flows, the Company discounts the future cash flows using a discount rate required for a similar investment of like risk and records an impairment charge as the difference between the fair value and the carrying value of the asset group. The Company performs its testing of the asset group at the reporting unit level, as this is the lowest level for which identifiable cash flows are available, with the exception of the Yankee Candle business, where testing is performed at the retail store level.

Income Taxes

The Company accounts for deferred income taxes using the asset and liability approach. Under this approach, deferred income taxes are recognized based on the tax effects of temporary differences between the financial statement and tax bases of assets and liabilities, as measured by current enacted tax rates. Valuation allowances are recorded to reduce the deferred tax assets to an amount that will more likely than not be realized.

The Company regularly reviews its deferred tax assets for recoverability considering historical profitability, projected future taxable income, the expected timing of the reversals of existing temporary differences and tax planning strategies.

For uncertain tax positions, the Company applies the provisions of relevant authoritative guidance, which requires application of a “more likely than not” threshold to the recognition and derecognition of tax positions. The Company’s ongoing assessments of the more likely than not outcomes of tax authority examinations and related tax positions require significant judgment and can increase or decrease the Company’s effective tax rate, as well as impact operating results. See Footnote 12 for further information.

Sales of Accounts Receivable

Factored receivables at December 31, 2023 associated with the Company’s existing factoring agreement (the “Customer Receivables Purchase Agreement”) were approximately $240 million, a decrease of approximately $180 million from December 31, 2022. Transactions under this agreement are accounted for as sales of accounts receivable, and the receivables sold are removed from the Consolidated Balance Sheet at the time of the sales transaction. The Company classifies the proceeds received from the sales of accounts receivable as an operating cash flow and collections of accounts receivables not yet submitted to the financial institution as a financing cash flow in the Consolidated Statement of Cash Flows. The Company records the discount as other (income) expense, net in the Consolidated Statement of Operations.

On October 2, 2023, the Company, through a wholly-owned special purpose entity (“SPE”) entered into a three-year agreement with a financial institution to sell up to $225 million, between February and April of each year and up to $275 million at all other times, of certain customer receivables without recourse on a revolving basis (the “New Receivables Facility”). Under the New Receivables Facility, certain of the Company’s subsidiaries continuously sell their accounts receivables, originated in the U.S., to the SPE and the SPE sells the receivables to the financial institution. The SPE is a variable interest entity for which the Company is considered to be the primary beneficiary. The SPE’s sole business consists of the purchase of receivables from certain subsidiaries of the Company and the subsequent transfer of such receivables to the financial institution. Although the SPE is included in the Company’s consolidated financial statements, it is a separate legal entity with separate creditors. The assets of the SPE are not available to pay creditors of the Company or its subsidiaries. The fair value of these servicing arrangements as well as the fees earned was immaterial.

The Company accounts for receivables sold from the SPE to the financial institution as a sale of financial assets and derecognizes the trade receivables from the Company’s Consolidated Balance Sheet. The balance of outstanding accounts receivables sold to the financial institution as of December 31, 2023 was $45 million. Cash received under the New Receivables Facility is included in cash from operating activities in the Consolidated Statements of Cash Flows.

Supplier Finance Program Obligations

The Company has worked with its suppliers of goods and services over the past several years to revisit terms and conditions, including the extension of payment terms. Additionally, a global financial institution offers a voluntary supply chain finance program (the “SCF Program”) which enables suppliers, at their sole discretion, to sell their receivables from the Company to the financial institution on a non-recourse basis.

The Company and its suppliers agree on contractual terms for the goods and services procured, including prices, quantities and payment terms, regardless of whether the supplier elects to participate in the SCF Program. Payments terms average approximately 126 days. The suppliers sell goods or services, as applicable, to the Company and issue the associated invoices to the Company based on the agreed-upon contractual terms. Suppliers that participate in the SCF Program, at their sole discretion, determine which invoices, if any, they want to sell to the financial institution. The suppliers’ voluntary inclusion of invoices in the SCF Program does not change the Company’s existing contractual terms with its suppliers. The Company does not provide any guarantees under the SCF Program, nor does it have any economic interest in a supplier’s decision to participate in the SCF Program as of December 31, 2023.

Amounts due under the SCF Program are included in accounts payable in the Consolidated Balance Sheets and as operating cash flows in the Consolidated Statement of Cash Flows.

The following table sets forth the outstanding payment obligations and activities related to the SCF Program:


Balance at December 31, 2022	$	100
Invoices posted	336
Invoices paid	(340)

Balance at December 31, 2023	$	96

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents include cash on hand and highly liquid investments that have a maturity of three months or less when purchased. Restricted cash reflects cash received on previously sold customer receivables in connection with the factoring programs that are required to be remitted to a financial institution. Restricted cash is reported as prepaid expenses and other current assets on the Consolidated Balance Sheets.

Accounts Receivable, Net

Accounts receivable, net, include amounts billed and due from customers. Payment terms vary but generally are 90 days or less. An allowance for expected credit losses is based on the amount ultimately expected to be collected from the customer. The Company evaluates the collectability of accounts receivable based on a combination of factors including the length of time the receivables are past due, historical collection experience, current market conditions and forecasted direction of economic and business environment. Accounts deemed uncollectible are written off, net of expected recoveries.

Capitalized Software Costs

The Company capitalizes costs associated with internal-use software during the application development stage after both the preliminary project stage has been completed and the Company’s management has authorized and committed to funding for further project development. Capitalized internal-use software costs include: (i) external direct costs of materials and services consumed in developing or obtaining the software; (ii) payroll and payroll-related costs for employees who are directly associated with and who devote time directly to the project; and (iii) interest costs incurred while developing the software. Capitalization of these costs ceases no later than the point at which the project is substantially complete and ready for its intended purpose. The Company expenses as incurred research and development, general and administrative, and indirect costs associated with internal-use software. In addition, the Company expenses as incurred training, maintenance and other internal-use software costs incurred during the post-implementation stage. Costs associated with upgrades and enhancements of internal-use software are capitalized only if such modifications result in additional functionality of the software. The Company amortizes internal-use software costs using the straight-line method over the estimated useful life of the software. Capitalized software costs are evaluated annually for indicators of impairment, including but not limited to a significant change in available technology or the manner in which the software is being used. Impaired items are written down to their estimated fair values.

Capitalized implementation costs for certain qualified Software-as-a-Service (“SaaS”) arrangements are also subject to the same accounting criteria described above, when the Company does not own the intellectual property for the software license used in the arrangement. SaaS arrangements are included in prepaid expenses and other current assets and other assets in the Consolidated Balance Sheets. The straight-line amortization of these costs is presented along with the fees related to the hosted cloud computing service in the Consolidated Statements of Operations.

Product Liability Reserves

The Company has a self-insurance program for product liability that includes reserves for self-retained losses and certain excess and aggregate risk transfer insurance. The Company uses historical loss experience combined with actuarial evaluation methods, review of significant individual files and the application of risk transfer programs in determining required product liability reserves. The Company’s actuarial evaluation methods take into account claims incurred but not reported when determining the Company’s product liability reserve. While the Company believes that it has adequately reserved for these claims, the ultimate outcome of these matters may exceed the amounts recorded by the Company, and such additional losses may be material to the Company’s Consolidated Financial Statements.

Product Warranties

In the normal course of business, the Company offers warranties for a variety of its products. The specific terms and conditions of the warranties vary depending upon the specific product and markets in which the products were sold. The Company accrues for the estimated cost of product warranty at the time of sale based on historical experience.

Advertising Costs

The Company expenses production costs of print, radio, television and other advertisements as of the first date the advertisements take place, and the Company expenses all other advertising and marketing costs when incurred. Advertising and promotion costs are recorded in selling, general and administrative expenses (“SG&A”) and totaled $371 million, $387 million and $407 million in 2023, 2022 and 2021, respectively.

Research and Development Costs

Research and development costs relating to both future and current products are charged to SG&A as incurred. These costs totaled $117 million, $140 million and $153 million in 2023, 2022 and 2021, respectively.

Other Significant Accounting Policies

Other significant accounting policies are disclosed as follows:

•Restructuring – Footnote 4

•Inventory – Footnote 5

•Property, Plant and Equipment – Footnote 6

•Derivative Instruments – Footnote 10

•Foreign Currency Operations – Footnote 10

•Pensions and Postretirement Benefits – Footnote 11

•Leases – Footnote 13

•Share-Based Compensation – Footnote 15

•Legal and Environmental Reserves – Footnote 18

Recent Accounting Pronouncements

Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs.

In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in this update require that a public entity disclose on an annual and interim basis significant segment expenses that are regularly provided to the CODM, amount for other segment items by reportable segment and a description of its composition, segment profit and loss and assets, additional measures of segment profit used by the CODM in assessing segment performance and the title and position of the CODM, as well as an explanation of how the CODM uses the reported measures in assessing segment performance and deciding allocation of resources. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company does not expect the adoption of ASU 2023-07 to have a material impact on its consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The standard requires all entities subject to income taxes to disclose disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The new requirement will be effective for annual periods beginning after December 15, 2024. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company does not expect the adoption of ASU 2023-09 to have a material impact on the consolidated financial statements.

Adoption of New Accounting Guidance

In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” In January 2021, the FASB clarified the scope of this guidance with the issuance of ASU 2021-01,

Reference Rate Reform: Scope. ASU 2020-04 provides optional expedients and exceptions to account for contracts, hedging relationships and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate if certain criteria are met. This ASU was further updated with the issuance of ASU 2022-06, Reference Rate Reform: Deferral of the Sunset Date of Topic 848, which extends the sunset date of the guidance. ASU 2020-04 may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2024. The Company adopted ASU 2020-04 and it did not have a material impact on its consolidated financial statements.

In October 2022, the FASB issued ASU 2022-04, “Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” This ASU requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to better consider the effect of the programs on an entity’s working capital, liquidity and cash flows. This ASU is effective for fiscal years beginning after December 15, 2022, except for the amendment on roll forward information which is effective for fiscal years beginning after December 15, 2023. The Company adopted ASU 2022-04 and it did not have a material impact on its consolidated financial statements. See preceding disclosure for further information.

Employee Benefit and Retirement Plans - Schedule of Company's Pension Cost And Supplemental Retirement Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits \| United States
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0
Interest cost	44	25	20
Expected return on plan assets	(52)	(47)	(51)
Prior service cost	0	0	0
Net actuarial loss	3	16	22
Curtailment, settlement and termination costs	60	0	0
Total (income) expense	$ 55	$ (6)	$ (9)
Effective discount rate for benefit obligations	5.34%	2.64%	2.16%
Effective rate for interest on benefit obligations	5.23%	2.13%	1.54%
Effective rate for service cost	0.00%	2.94%	2.63%
Effective rate for interest on service cost	0.00%	2.97%	2.61%
Long-term rate of return on plan assets	5.88%	4.75%	5.25%
Long-term rate of compensation increase	3.00%	3.00%	3.00%
Pension Benefits \| International
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3	$ 4	$ 4
Interest cost	15	8	6
Expected return on plan assets	(11)	(6)	(3)
Prior service cost	3	1	1
Net actuarial loss	3	2	3
Curtailment, settlement and termination costs	66	0	0
Total (income) expense	$ 79	$ 9	$ 11
Effective discount rate for benefit obligations	4.07%	1.61%	1.22%
Effective rate for interest on benefit obligations	4.00%	1.46%	0.92%
Effective rate for service cost	3.20%	0.96%	0.71%
Effective rate for interest on service cost	3.06%	0.78%	0.54%
Long-term rate of return on plan assets	3.61%	1.06%	0.51%
Long-term rate of compensation increase	2.41%	2.27%	2.18%
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0
Interest cost	1	1	$ 1
Net actuarial loss	(6)	(5)	(3)
Total (income) expense	$ (5)	$ (4)	$ (2)
Effective discount rate for benefit obligations	5.11%	2.34%	1.80%
Effective rate for interest on benefit obligations	5.04%	1.77%	1.18%
Effective rate for service cost	4.97%	1.98%	1.32%
Effective rate for interest on service cost	4.90%	1.67%	1.02%

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

The Company recognizes a right of use (“ROU”) asset and a liability for all leases whose term is more than 12 months at the lease inception date. ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term, which includes any extension the Company reasonably expects to exercise. The Company assesses whether certain service arrangements contain embedded leases where the contract conveys the right to use an asset but is not explicitly identified as a lease arrangement; examples include information technology, third-party logistics and original equipment manufacturers. The Company uses incremental borrowing rates, updated quarterly, that reflect its own external unsecured borrowing rates that are risk-adjusted to approximate secured borrowing rates over similar terms.

For certain non-real estate leases, the portfolio approach is used. The Company also has lease agreements with lease and non-lease components, which are accounted for as a single lease component.

Operating lease expense is recognized on a straight-line basis over the lease term. Operating lease assets and operating lease liabilities are reported as separate lines in the Consolidated Balance Sheets. The current portion of operating lease liabilities is reported in other accrued liabilities in the Consolidated Balance Sheets.

For finance leases, lease payments are allocated between interest expense and reduction of the liability in accordance with an amortization schedule. The corresponding asset is amortized on a straight-line basis over the lease term. Assets acquired under finance leases are reported in property, plant and equipment, net in the Consolidated Balance Sheets.

The depreciable life of leasehold improvements and other lease-related assets are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise.

Supplemental consolidated balance sheet information for leases at December 31, is as follows (in millions):


	Classification	2023		2022
Assets
Operating leases	Operating lease assets	$	515	$	578
Finance leases	Property, plant and equipment, net (1)	—		2
Total lease assets		$	515	$	580

Liabilities
Current
Operating leases	Other accrued liabilities	$	122	$	121
Finance leases	Short-term debt and current portion of long-term debt	—		1
Noncurrent
Operating leases	Operating lease liabilities	446		512
Finance leases	Long-term debt	—		1
Total lease liabilities		$	568	$	635

(1)Net of accumulated depreciation of $4 million and $18 million, respectively.

Components of lease expense for the years ended December 31, are as follows (in millions):


	2023		2022		2021
Operating lease cost:
Operating lease cost (1)	$	172	$	172	$	166
Variable lease costs (2)	24		21		23
Finance lease cost
Amortization of leased assets	1		4		4

(1)Includes short-term leases, which are immaterial.

(2)Consists primarily of additional payments for non-lease components, such as maintenance costs, payments of taxes and additional rent based on a level of the Company’s retail store sales.

Remaining lease term and discount rates at December 31, are as follows:


	2023	2022
Weighted-average remaining lease term (years):
Operating leases	7	8
Finance leases	0	1
Weighted-average discount rate:
Operating leases	4.3%	4.6%
Finance leases	—%	0.8%

Supplemental cash flow information related to leases for the years ended December 31, are as follows (in millions):


	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	162	$	160	$	163

Financing cash flows from finance leases	—		3		4

Right of use assets obtained in exchange for lease liabilities:
Operating leases	46		135		144

Maturities of lease liabilities at December 31, 2023, are as follows (in millions):


	Operating Leases
2024	$	146
2025	116
2026	89
2027	68
2028	60
Thereafter	173
Total lease payments	652
Less: imputed interest	(84)
Present value of lease liabilities	$	568

Leases

For certain non-real estate leases, the portfolio approach is used. The Company also has lease agreements with lease and non-lease components, which are accounted for as a single lease component.

Supplemental consolidated balance sheet information for leases at December 31, is as follows (in millions):


	Classification	2023		2022
Assets
Operating leases	Operating lease assets	$	515	$	578
Finance leases	Property, plant and equipment, net (1)	—		2
Total lease assets		$	515	$	580

Liabilities
Current
Operating leases	Other accrued liabilities	$	122	$	121
Finance leases	Short-term debt and current portion of long-term debt	—		1
Noncurrent
Operating leases	Operating lease liabilities	446		512
Finance leases	Long-term debt	—		1
Total lease liabilities		$	568	$	635

(1)Net of accumulated depreciation of $4 million and $18 million, respectively.

Components of lease expense for the years ended December 31, are as follows (in millions):


	2023		2022		2021
Operating lease cost:
Operating lease cost (1)	$	172	$	172	$	166
Variable lease costs (2)	24		21		23
Finance lease cost
Amortization of leased assets	1		4		4

(1)Includes short-term leases, which are immaterial.

(2)Consists primarily of additional payments for non-lease components, such as maintenance costs, payments of taxes and additional rent based on a level of the Company’s retail store sales.

Remaining lease term and discount rates at December 31, are as follows:


	2023	2022
Weighted-average remaining lease term (years):
Operating leases	7	8
Finance leases	0	1
Weighted-average discount rate:
Operating leases	4.3%	4.6%
Finance leases	—%	0.8%

Supplemental cash flow information related to leases for the years ended December 31, are as follows (in millions):


	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	162	$	160	$	163

Financing cash flows from finance leases	—		3		4

Right of use assets obtained in exchange for lease liabilities:
Operating leases	46		135		144

Maturities of lease liabilities at December 31, 2023, are as follows (in millions):


	Operating Leases
2024	$	146
2025	116
2026	89
2027	68
2028	60
Thereafter	173
Total lease payments	652
Less: imputed interest	(84)
Present value of lease liabilities	$	568

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Changes In Stock Options

The following table summarizes the changes in the number of shares of common stock for 2023 (shares and aggregate intrinsic value in millions):


	Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Life (in years)	Aggregate Intrinsic Value
Outstanding at December 31, 2022	6.5	$	23
Granted	0.5	13
Exercised	—	—
Forfeited	(0.4)	24
Outstanding at December 31, 2023	6.6	$	22	6.9	$0

Options exercisable, end of year	4.2	$	21	6.4	$0

Schedule of Weighted Average Assumptions Used to Determined the Fair Value of Stock Options Granted

The weighted average assumptions used to determine the fair value of stock options granted for the years ended December 31, are as follows:


	2023		2022
Expected life in years	7		6
Risk-free interest rate	3.6	%	1.9	%
Expected volatility	42.1	%	42.0	%
Expected dividend yield	4.4	%	5.1	%

Schedule of Changes of Restricted Stock and Restricted Stock Units

The following table summarizes the changes in the number of outstanding restricted stock units for 2023 (shares in millions):


	Restricted Stock Unit	Weighted Average Grant Date Fair Value Per Share
Outstanding at December 31, 2022	4.5	$	24
Granted	10.5	11
Grant adjustment (1)	(0.6)	22
Vested	(0.9)	22
Forfeited	(1.0)	19
Outstanding at December 31, 2023	12.5	$	14

Expected to vest, end of year	12.5	$	12

Schedule of Total Unrecognized Compensation Cost Related to Stock-based Compensation

The following table summarizes the Company’s total unrecognized compensation cost related to stock-based compensation at December 31, 2023:


(in millions)	Unrecognized Compensation Cost		Weighted Average Period of Expense Recognition (in years)
Restricted stock units	$	80	1
Stock options	4		1
Total	$	84	1

Basis of Presentation and Significant Accounting Policies - Additional Information (Detail)		3 Months Ended						12 Months Ended
	Oct. 02, 2023 USD ($)	Dec. 31, 2023 USD ($) country tradename	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($) tradename	Sep. 30, 2022 USD ($) tradename	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($) country segment unit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Basis of Presentation and Significant Accounting Policies [Line Items]
Number of countries In which entity products are sold (in countries) \| country		150						150
Number of operating segments \| segment								3
Impairment of indefinite-lived tradenames								$ 98,000,000	$ 310,000,000	$ 60,000,000
Impairment of long-lived assets		$ 0
Goodwill, impairment loss								$ 241,000,000	164,000,000
Number of reporting units \| unit								6
Sale of accounts receivable								$ 240,000,000
Increase (decrease) in factored account receivable									(180,000,000)
Supplier finance program payments terms		126 days						126 days
Advertising expense								$ 371,000,000	387,000,000	407,000,000
Research and development expense								117,000,000	140,000,000	153,000,000
Revolving credit facility
Basis of Presentation and Significant Accounting Policies [Line Items]
Revolving accounts receivable facility, maximum borrowing capacity		$ 1,500,000,000						1,500,000,000
Revolving credit facility \| Revolving Accounts Receivable Facility
Basis of Presentation and Significant Accounting Policies [Line Items]
Agreement term	3 years
Revolving accounts receivable facility, maximum borrowing capacity	$ 225,000,000
Revolving accounts receivable facility, increase limit	$ 275,000,000
Accounts receivable		45,000,000						45,000,000
Trade Names
Basis of Presentation and Significant Accounting Policies [Line Items]
Impairment of indefinite-lived tradenames				$ 8,000,000	$ 270,000,000	$ 40,000,000	$ 60,000,000
Home and Commercial Solutions
Basis of Presentation and Significant Accounting Policies [Line Items]
Impairment of indefinite-lived tradenames								76,000,000	280,000,000	29,000,000
Number of indefinite-lived intangible assets \| tradename					2
Goodwill, impairment loss								0	164,000,000
Home and Commercial Solutions \| Trade Names
Basis of Presentation and Significant Accounting Policies [Line Items]
Impairment of indefinite-lived tradenames		$ 68,000,000
Number of indefinite-lived intangible assets \| tradename		2			2	2
Baby Reporting Unit
Basis of Presentation and Significant Accounting Policies [Line Items]
Goodwill, impairment loss			$ 241,000,000	$ 0
Outdoor and Recreation
Basis of Presentation and Significant Accounting Policies [Line Items]
Impairment of indefinite-lived tradenames								22,000,000	0	$ 0
Goodwill, impairment loss								$ 0	$ 0
Outdoor and Recreation \| Trade Names
Basis of Presentation and Significant Accounting Policies [Line Items]
Impairment of indefinite-lived tradenames			$ 22,000,000
Minimum
Basis of Presentation and Significant Accounting Policies [Line Items]
Number of countries in which entity operates (in countries) \| country		40						40

Employee Benefit and Retirement Plans - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended				12 Months Ended
	Nov. 30, 2023	Oct. 31, 2023	Sep. 30, 2023	Apr. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit plans, amounts that will be amortized from AOCI in next fiscal year, pre-tax					$ 2
Defined benefit plan, actuarial income to be reclassified within twelve months					5
Defined contribution plan, cost recognized					37	$ 37	$ 36
United States
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plans, estimated future employer contributions, next fiscal year					15
International
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plans, estimated future employer contributions, next fiscal year					$ 9
Minimum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target plan asset allocations range maximum					0.00%
Minimum \| Fixed Income Investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target plan asset allocations range maximum					80000000.00%
Minimum \| Cash and other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target plan asset allocations range maximum					0.00%
Maximum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target plan asset allocations range maximum					20000000.00%
Maximum \| Fixed Income Investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target plan asset allocations range maximum					100000000.00%
Maximum \| Cash and other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target plan asset allocations range maximum					10000000.00%
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Net death benefits from life insurance policies, amount					$ 300
Cash surrender value of life insurance					141	141
Defined benefit plan, benefit obligation					$ 77	$ 81
International
Defined Benefit Plan Disclosure [Line Items]
Plan asset, buy-out percentage				7.00%
Pretax loss			$ 66
Group Annuity Contract
Defined Benefit Plan Disclosure [Line Items]
Obligation settled allocated to retirees		55000000.00%
Group Annuity Contract \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation settlement		$ 163
Pretax settlement loss	$ 60

Weighted Average Shares Outstanding - Additional Information (Detail) - USD ($)		3 Months Ended	12 Months Ended
	Feb. 25, 2022	Jun. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Feb. 06, 2022
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Potentially dilutive restricted share awards excluded from computation of diluted EPS (in shares)			1,500,000
Share Repurchase Program
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Stock repurchase program, authorized amount						$ 375,000,000
Common stock repurchased (in shares)	275,000,000	50,000,000
Purchase price per share (in USD per share)	$ 25.86	$ 22.01
Restricted Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Potentially dilutive restricted share awards excluded from computation of diluted EPS (in shares)			800,000	100,000	0

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Income (Loss)	Total Stockholders' Equity Attributable to Parent	Non- controlling Interests
Beginning balance at Dec. 31, 2020	$ 3,917	$ 448	$ (598)	$ 8,078	$ (3,157)	$ (880)	$ 3,891	$ 26
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	620				622	(2)	620
Dividends declared on common stock	(397)			(397)			(397)
Equity compensation, net of tax	44	2	(11)	53			44
Portion of net income attributable to noncontrolling interests	2							2
Acquisition of noncontrolling interests	(28)							(28)
Ending balance at Dec. 31, 2021	4,158	450	(609)	7,734	(2,535)	(882)	4,158	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	68				197	(129)	68
Dividends declared on common stock	(380)			(380)			(380)
Equity compensation, net of tax	(1)	2	(14)	11			(1)
Common stock purchased and retired	(325)	(13)		(312)			(325)
Other	(1)			(1)			(1)
Ending balance at Dec. 31, 2022	3,519	439	(623)	7,052	(2,338)	(1,011)	3,519	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	(267)				(388)	121	(267)
Dividends declared on common stock	(185)			(185)			(185)
Equity compensation, net of tax	45	1	(4)	48			45
Ending balance at Dec. 31, 2023	$ 3,112	$ 440	$ (627)	$ 6,915	$ (2,726)	$ (890)	$ 3,112	$ 0

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

+ Details

Fair Value Disclosures - Summary of Non-Pension Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	$ (120)	$ (27)
Fair Value Measurements on Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	45	97
Liabilities	(165)	(124)
Investment securities, including mutual funds	14	14
Level 1 \| Fair Value Measurements on Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Investment securities, including mutual funds	14	14
Level 2 \| Fair Value Measurements on Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	45	97
Liabilities	(165)	(124)
Investment securities, including mutual funds	0	0
Level 3 \| Fair Value Measurements on Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Investment securities, including mutual funds	$ 0	$ 0

Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Supplier Finance Program

The following table sets forth the outstanding payment obligations and activities related to the SCF Program:


Balance at December 31, 2022	$	100
Invoices posted	336
Invoices paid	(340)

Balance at December 31, 2023	$	96

Goodwill and Other Intangible Assets, Net - Schedule of Other Intangible Assets and Related Amortization Periods (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) tradename	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Intangible Assets [Line Items]
Gross Carrying Amount		$ 3,495	$ 3,545
Accumulated Amortization		(1,007)	(896)
Other intangible assets, net		2,488	2,649
Tradenames
Intangible Assets [Line Items]
Gross Carrying Amount		232	160
Accumulated Amortization		(105)	(79)
Net Book Value		$ 127	81
Tradenames \| Project Phoenix
Intangible Assets [Line Items]
Number of finite-lived intangible assets \| tradename	6
Finite-lived trade names, gross	$ 70
Tradenames \| Minimum
Intangible Assets [Line Items]
Amortization Periods (In years)		2 years
Tradenames \| Minimum \| Project Phoenix
Intangible Assets [Line Items]
Amortization Periods (In years)	5 years
Tradenames \| Maximum
Intangible Assets [Line Items]
Amortization Periods (In years)		15 years
Tradenames \| Maximum \| Project Phoenix
Intangible Assets [Line Items]
Amortization Periods (In years)	10 years
Capitalized software
Intangible Assets [Line Items]
Gross Carrying Amount		$ 628	602
Accumulated Amortization		(512)	(481)
Net Book Value		$ 116	121
Capitalized software \| Minimum
Intangible Assets [Line Items]
Amortization Periods (In years)		3 years
Capitalized software \| Maximum
Intangible Assets [Line Items]
Amortization Periods (In years)		12 years
Patents and intellectual property
Intangible Assets [Line Items]
Gross Carrying Amount		$ 22	22
Accumulated Amortization		(20)	(17)
Net Book Value		$ 2	5
Patents and intellectual property \| Minimum
Intangible Assets [Line Items]
Amortization Periods (In years)		3 years
Patents and intellectual property \| Maximum
Intangible Assets [Line Items]
Amortization Periods (In years)		14 years
Customer relationships and distributor channels
Intangible Assets [Line Items]
Gross Carrying Amount		$ 1,078	1,072
Accumulated Amortization		(370)	(319)
Net Book Value		$ 708	753
Customer relationships and distributor channels \| Minimum
Intangible Assets [Line Items]
Amortization Periods (In years)		3 years
Customer relationships and distributor channels \| Maximum
Intangible Assets [Line Items]
Amortization Periods (In years)		30 years
Tradenames
Intangible Assets [Line Items]
Net Book Value		$ 1,535	$ 1,689

Fair Value Disclosures - Summary of Assets Measured at Fair Value on a Nonrecurring Basis (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 544	$ 129
Fair Value, Measurements, Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indefinite-lived intangibles	$ 544	$ 129

Goodwill and Other Intangible Assets, Net - Summary of Changes in Goodwill by Reportable Business Segment (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Goodwill [Roll Forward]
Net Book Value, Beginning balance	$ 3,298	$ 3,504
Impairment Charges	(241)	(164)
Foreign Exchange	14	(42)
Gross Carrying Amount	8,251	8,237
Accumulated Impairment Charges	(5,180)	(4,939)
Net Book Value, Ending balance	3,071	3,298
Home and Commercial Solutions
Goodwill [Roll Forward]
Net Book Value, Beginning balance	747	911
Impairment Charges	0	(164)
Foreign Exchange	0	0
Gross Carrying Amount	4,052	4,052
Accumulated Impairment Charges	(3,305)	(3,305)
Net Book Value, Ending balance	747	747
Learning and Development
Goodwill [Roll Forward]
Net Book Value, Beginning balance	2,551	2,593
Impairment Charges	(241)	0
Foreign Exchange	14	(42)
Gross Carrying Amount	3,411	3,397
Accumulated Impairment Charges	(1,087)	(846)
Net Book Value, Ending balance	2,324	2,551
Outdoor and Recreation
Goodwill [Roll Forward]
Net Book Value, Beginning balance	0	0
Impairment Charges	0	0
Foreign Exchange	0	0
Gross Carrying Amount	788	788
Accumulated Impairment Charges	(788)	(788)
Net Book Value, Ending balance	$ 0	$ 0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The components of income (loss) before income taxes for the years ended December 31, (in millions):


	2023		2022		2021
Domestic	$	(995)	$	(698)	$	(353)
Foreign	452		855		1,113
Total	$	(543)	$	157	$	760

The provision for income taxes consists of the following for the years ended December 31, (in millions):


	2023		2022		2021
Current:
Federal	$	56	$	(245)	$	48
State	1		6		17
Foreign	71		102		97
Total current	128		(137)		162
Deferred:
Federal	(232)		163		(26)
State	(40)		(34)		(20)
Foreign	(11)		(32)		22
Total deferred	(283)		97		(24)
Total income tax provision (benefit)	$	(155)	$	(40)	$	138

A reconciliation of the U.S. statutory rate to the effective income tax rate on a continuing basis is as follows for the years ended December 31:


	2023		2022		2021
Statutory rate	21.0	%	21.0	%	21.0	%
Add (deduct) effect of:
State income taxes, net of federal income tax effect	5.7		(14.8)		(0.5)
U.S. foreign inclusions and foreign tax credit (1)	(2.4)		(43.5)		3.6
Foreign rate differential	12.3		(47.2)		(11.6)
Change in uncertain tax positions	—		16.7		0.1
Change in valuation allowance reserve	(9.2)		(13.8)		(3.8)

Impairments	1.0		20.7		—
Sale of businesses	(0.9)		(21.2)		—
Capital loss	1.4		—		(2.1)
Reversal of outside basis difference	11.2		1.6		0.4


Non-deductible compensation	(1.1)		1.9		0.4

Other taxes	(1.8)		4.5		1.3
U.S. income inclusions on asset transfers	(10.1)		50.3		11.1
Foreign exchange	—		2.0		—
Other tax credits	1.8		1.0		(0.4)
Return to provision	1.5		(11.3)		(1.7)
Other	(1.9)		6.6		0.4
Effective rate	28.5	%	(25.5)	%	18.2	%

(1)The Company accounts for tax on global intangible low-taxed income (“GILTI”) as a period cost and the effects are included herein.

At December 31, 2023, the Company has accumulated unremitted earnings generated by our foreign subsidiaries of approximately $6.0 billion. A portion of these earnings were subject to U.S. federal taxation with the one-time toll charge. The Company does not assert indefinite reinvestment on a portion of its unremitted earnings of certain foreign subsidiaries as of December 31, 2023 and is recognizing deferred income taxes of approximately $12 million, primarily related to the future withholding tax effects of those unremitted foreign earnings. With respect to unremitted earnings of $6.0 billion and any other additional outside basis differences

where the Company is continuing to assert indefinite reinvestment, any future reversals could be subject to additional foreign withholding taxes, U.S. state taxes and certain tax impacts relating to foreign currency exchange effects on any future repatriations of the unremitted earnings. The determination of any unrecognized deferred tax liabilities on the amount of unremitted earnings and other outside basis differences where the Company is asserting indefinite reinvestment is not practicable.

Deferred tax assets (liabilities) consist of the following at December 31, (in millions):


	2023		2022
Deferred tax assets:
Accruals	$	190	$	153
Inventory	74		84
Pension and postretirement benefits	38		49
Net operating losses	322		295
Foreign tax credits	16		27
Capital loss carryforward	43		41
Operating lease liabilities	153		169
Capitalized research and development expenses	68		36
Interest expense carryforward	91		28
Other	122		116
Total gross deferred tax assets	1,117		998
Less valuation allowance	(184)		(148)
Net deferred tax assets after valuation allowance	933		850
Deferred tax liabilities:
Accelerated depreciation	(112)		(119)
Amortizable intangibles	(69)		(114)
Outside basis differences	(12)		(96)
Operating lease assets	(140)		(154)

Other	(35)		(77)
Total gross deferred tax liabilities	(368)		(560)
Net deferred tax assets	$	565	$	290

The net deferred tax amounts have been classified in the balance sheet at December 31, (in millions):


	2023		2022
Noncurrent deferred tax assets	$	806	$	810
Noncurrent deferred tax liabilities	(241)		(520)
Net deferred tax assets	$	565	$	290

At December 31, 2023, the Company has net operating losses (“NOLs”) of approximately $1.3 billion, comprised of $150 million in the U.S. and $1.1 billion outside of the U.S. Approximately $841 million of these NOLs do not expire and approximately $447 million expire between 2024 and 2043. During 2023, the Company utilized approximately $12 million of U.S. federal NOLs that were not previously reflected in the consolidated financial statements. As of December 31, 2023, all U.S. federal NOLs are reflected in the consolidated financial statements. At December 31, 2023, the Company has approximately $1.3 billion of post-apportioned state NOLs, of which $147 million do not expire and $1.1 billion expire between 2024 and 2043.

The Company has U.S. foreign tax credits of $16 million which expire between 2028 and 2033. The Company has approximately $126 million of U.S. capital loss carryforwards of which approximately $84 million were generated at December 31, 2020, $42 million were generated at December 31, 2021, and can be carried back three years and carried forward five years. The Company has approximately $188 million of post-apportioned state capital loss of which $26 million was generated at December 31, 2018, $146 million was generated at December 31, 2020, $13 million was generated at December 31, 2021 and $3 million was generated at December 31, 2022. Of these post-apportioned state capital loss carryforwards, $131 million can be carried back three years and carried forward five years, and $57 million can be carried forward five years.

The Company had a noncurrent income tax receivable of $290 million and $271 million as of December 31, 2023 and 2022, respectively. In 2023, the Company paid $19 million of tax for the one-time toll charge (defined hereafter) incurred in 2017 related

to the Tax Credits and Jobs Act due to the IRS having not yet processed the amended 2017 tax return. During the year ended December 31, 2022, the Company amended its 2017 U.S. federal income tax return to carryback foreign tax credits generated in 2018 and capital losses generated in 2018 and 2020. The Company also paid $10 million of tax for the one-time toll charge. This resulted in an increase in noncurrent income tax receivable of approximately $271 million, a decrease in income taxes payable of approximately $95 million, and an increase in deferred tax liabilities of approximately $356 million.

The Company routinely reviews valuation allowances recorded against deferred tax assets on a more likely than not basis as to whether the Company will realize the deferred tax assets. In making such a determination, the Company takes into consideration all available and appropriate positive and negative evidence, including projected future taxable income, future reversals of existing taxable temporary differences, the ability to carryback net operating losses, and available tax planning strategies. Although realization is not assured, based on this existing evidence, the Company believes it is more likely than not that the Company will realize the benefit of existing deferred tax assets, net of the valuation allowances.

At December 31, 2023, the Company has a valuation allowance recorded against certain deferred tax assets, primarily state and foreign NOLs, foreign capital losses and U.S. foreign tax credits, which the Company believes do not meet the more likely than not threshold to be realized due to uncertainty of future taxable income within the applicable tax jurisdictions. A valuation allowance of $184 million and $148 million was recorded against certain deferred tax asset balances at December 31, 2023 and 2022, respectively. For 2023, the Company recorded a net valuation allowance increase of $36 million, primarily related to NOLs in Switzerland, Luxembourg, and Argentina and capital losses in Hong Kong netted with a write-off of NOLs and the related valuation allowance resulting from the liquidation of various subsidiaries in Luxembourg, Netherlands and China, as well as other miscellaneous changes in the U.S., state and non-U.S. valuation allowances related to ongoing operations. For 2022, the Company recorded a net valuation allowance decrease of $38 million, primarily related to NOLs in Brazil, China and Luxembourg and other miscellaneous changes in the U.S., state and non-U.S. valuation allowance related to ongoing operations.

The following table summarizes the changes in gross unrecognized tax benefits periods indicated are as follows (in millions):


	2023		2022		2021
Unrecognized tax benefits, January 1,	$	476	$	457	$	452
Increases (decreases):
Increases in tax positions for prior years	—		1		1
Decreases in tax positions for prior years	(19)		(3)		(4)
Increase in tax positions for the current period	12		44		23
Settlements with taxing authorities	—		(13)		(2)
Lapse of statute of limitations	(6)		(10)		(12)
Cumulative translation adjustments	—		—		(1)
Unrecognized tax benefits, December 31,	$	463	$	476	$	457

If recognized, $387 million, $412 million and $387 million of unrecognized tax benefits at December 31, 2023, 2022 and 2021, respectively, would affect the effective tax rate. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits as a component of income tax expense. During 2023, 2022 and 2021 the Company recognized income tax expense on interest and penalties of $9 million, $5 million and $7 million, respectively, due to the accrual of current year interest on existing positions offset by the resolution of certain tax contingencies.

The Company anticipates approximately $39 million of unrecognized tax benefits will reverse within the next 12 months. It is reasonably possible due to statutes of limitation expiration, as well as activities of various worldwide taxing authorities, including proposed assessments of additional tax and possible settlement of audit issues, that additional changes to the Company’s unrecognized tax benefits could occur. In the normal course of business, the Company is subject to audits by worldwide taxing authorities regarding various tax liabilities. The Company’s U.S. federal income tax returns for 2011 to 2015 and 2017 to 2020, as well as certain state and non-U.S. income tax returns for various years, are under examination.

The Company files numerous consolidated and separate income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The statute of limitations for the Company’s U.S. federal income tax returns has expired for years prior to 2011 and for 2016. With few exceptions, the Company is no longer subject to other income tax examinations for years before 2016.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment, Net (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 3,270	$ 3,073
Less: Accumulated depreciation	(2,058)	(1,889)
Total property, plant and equipment	1,212	1,184
Depreciation expense	225	196	$ 205
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	75	76
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 678	648
Buildings and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Buildings and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	40 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,517	$ 2,349
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years

Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The following is a summary of outstanding debt at December 31, (in millions):


	2023		2022

4.000% senior notes due 2024	$	198	$	196
4.875% senior notes due 2025	498		496
3.900% senior notes due 2025	47		47
4.200% senior notes due 2026	1,980		1,978
6.375% senior notes due 2027	488		483
6.625% senior notes due 2029	486		481
5.375% senior notes due 2036	417		417
5.500% senior notes due 2046	658		658
Revolving credit facility	131		225
Commercial paper	—		359
Receivables facility	—		35
Other debt	1		2
Total debt	4,904		5,377
Short-term debt and current portion of long-term debt	(329)		(621)
Long-term debt	$	4,575	$	4,756

Weighted average interest rates for the years ended December 31, are as follows:


	2023	2022	2021
Total debt	5.2%	4.3%	4.7%
Short-term debt	6.9%	4.0%	0.9%

Schedule of Maturities of Long-term Debt

The Company’s debt maturities for the five years following December 31, 2023 and thereafter are as follows (in millions):


2024	2025	2026	2027	2028	Thereafter	Total
$332	$547	$1,985	$500	$2	$1,586	$4,952

Schedule of Fair Value of Senior Notes

The fair values of the Company’s senior notes are based on quoted market prices and are as follows at December 31, (in millions):


	2023				2022
	Fair Value		Book Value		Fair Value		Book Value
Senior notes	$	4,633	$	4,772	$	4,511	$	4,756

Goodwill and Other Intangible Assets, Net - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 107
2025	95
2026	80
2027	72
2028	61
Thereafter	$ 538

Debt - Schedule of Weighted Average Interest Rates (Details) - Weighted Average	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt instrument, interest rate during period	5.20%	4.30%	4.70%
Short-term debt
Debt Instrument [Line Items]
Debt instrument, interest rate during period	6.90%	4.00%	0.90%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Goodwill and Other Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Goodwill by Reportable Business Segment

A summary of changes in the Company’s goodwill by reportable business segment is as follows for 2023 and 2022 (in millions):


							December 31, 2023
Segments:	Net Book Value at December 31, 2022		Impairment Charges		Foreign Exchange		Gross Carrying Amount		Accumulated Impairment Charges		Net Book Value
Home and Commercial Solutions	$	747	$	—	$	—	$	4,052	$	(3,305)	$	747
Learning and Development	2,551		(241)		14		3,411		(1,087)		2,324
Outdoor and Recreation	—		—		—		788		(788)		—
	$	3,298	$	(241)	$	14	$	8,251	$	(5,180)	$	3,071


							December 31, 2022
Segments:	Net Book Value at December 31, 2021		Impairment Charges		Foreign Exchange		Gross Carrying Amount		Accumulated Impairment Charges		Net Book Value
Home and Commercial Solutions	$	911	$	(164)	$	—	$	4,052	$	(3,305)	$	747
Learning and Development	2,593		—		(42)		3,397		(846)		2,551
Outdoor and Recreation	—		—		—		788		(788)		—
	$	3,504	$	(164)	$	(42)	$	8,237	$	(4,939)	$	3,298

Schedule of Other Intangible Asset Impairment Charges Allocated to Reporting Segments

The impairment charges for indefinite-lived tradenames were recorded in the Company’s reporting segments as follows for the years ended December 31, (in millions):


	2023 (1)		2022 (2)		2021 (3)
Impairment of indefinite-lived tradenames
Home and Commercial Solutions	$	76	$	280	$	29
Learning and Development	—		30		31
Outdoor and Recreation	22		—		—
	$	98	$	310	$	60

Schedule of Other Intangible Assets and Related Amortization Periods


	December 31, 2023						December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value		Amortization Periods (In years)
Tradenames - indefinite life (1)	$	1,535	$	—	$	1,535	$	1,689	$	—	$	1,689	N/A
Tradenames - other (1)	232		(105)		127		160		(79)		81		2-15
Capitalized software	628		(512)		116		602		(481)		121		3-12
Patents and intellectual property	22		(20)		2		22		(17)		5		3-14
Customer relationships and distributor channels	1,078		(370)		708		1,072		(319)		753		3-30

	$	3,495	$	(1,007)	$	2,488	$	3,545	$	(896)	$	2,649

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

At December 31, 2023, the aggregate estimated intangible amortization amounts for the succeeding five years are as follows (in millions):


Years ending December 31,	Amount
2024	$	107
2025	95
2026	80
2027	72
2028	61
Thereafter	538

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Share-Based Compensation - Summary of Weighted Average Assumptions Used to Determine Fair Value of Stock Options Granted (Details) - Stock options	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life in years	7 years	6 years
Risk-free interest rate	3.60%	1.90%
Expected volatility	42.10%	42.00%
Expected dividend yield	4.40%	5.10%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Derivatives and Foreign Currency Operations - Schedule of Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Liabilities	$ (120)	$ (27)
Derivatives designated as effective hedges: \| Cash Flow Hedges \| Foreign currency contracts \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Fair value of derivatives, asset	1	5
Derivatives designated as effective hedges: \| Cash Flow Hedges \| Foreign currency contracts \| Other accrued liabilities
Derivatives, Fair Value [Line Items]
Liabilities	(13)	(9)
Derivatives designated as effective hedges: \| Fair Value Hedges \| Interest rate swaps \| Other accrued liabilities
Derivatives, Fair Value [Line Items]
Liabilities	(15)	(14)
Derivatives designated as effective hedges: \| Fair Value Hedges \| Interest rate swaps \| Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Liabilities	(4)	(16)
Derivatives designated as effective hedges: \| Net Investment Hedges \| Cross-currency swaps \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Fair value of derivatives, asset	22	28
Derivatives designated as effective hedges: \| Net Investment Hedges \| Cross-currency swaps \| Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Liabilities	(119)	(75)
Derivatives designated as effective hedges: \| Net Investment Hedges \| Cross-currency swaps \| Other assets
Derivatives, Fair Value [Line Items]
Fair value of derivatives, asset	15	45
Derivatives not designated as effective hedges: \| Foreign currency contracts \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Fair value of derivatives, asset	7	19
Derivatives not designated as effective hedges: \| Foreign currency contracts \| Other accrued liabilities
Derivatives, Fair Value [Line Items]
Liabilities	$ (14)	$ (10)

Employee Benefit and Retirement Plans - Summary of Pension Plans with Accumulated Obligations in Excess of Plan Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Accumulated benefit obligation	$ 309	$ 303
Fair value of plan assets	$ 129	$ 123

Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reserve for Doubtful Accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 31	$ 27	$ 36
Provision	2	11	1
Other	(1)	0	(2)
Write-offs/ Disposition	(1)	(7)	(8)
Balance at End of Period	31	31	27
Income Tax Valuation Allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	148	186	213
Provision	60	15	31
Other	0	(5)	(7)
Write-offs/ Disposition	(24)	(48)	(51)
Balance at End of Period	$ 184	$ 148	$ 186

Restructuring - Schedule of Restructuring Costs Incurred by Reportable Business Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	$ 95	$ 15	$ 16
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	16	1	1
Home and Commercial Solutions \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	50	5	11
Learning and Development \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	18	4	1
Outdoor and Recreation \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	$ 11	$ 5	$ 3

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Components of Net Inventories

The components of inventories were as follows at December 31, (in millions):


	2023		2022
Raw materials and supplies	$	214	$	285
Work-in-process	173		218
Finished products	1,144		1,700
	$	1,531	$	2,203

Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Non-Pension Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the Company’s non-pension financial assets and liabilities, which are measured at fair value on a recurring basis (in millions):


	December 31, 2023								December 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Derivatives:
Assets	$	—	$	45	$	—	$	45	$	—	$	97	$	—	$	97
Liabilities	—		(165)		—		(165)		—		(124)		—		(124)
Investment securities, including mutual funds	14		—		—		14		14		—		—		14

Schedule of Assets Measured at Fair Value on a Nonrecurring Basis

The following table summarizes the assets that are measured at fair value on a nonrecurring basis at December 1, (in millions):


	2023		2022
	Level 3

Indefinite-lived intangibles	$	544	$	129
	$	544	$	129

Employee Benefit and Retirement Plans - Composition of Domestic Pension Plan Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	$ 668	$ 843
United States \| Equity securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	70	158
United States \| Fixed income securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	579	672
United States \| Alternative investments
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	2	2
United States \| Cash and other
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	17	11
Level 1 \| United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	265	377
Level 1 \| United States \| Equity securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 1 \| United States \| Fixed income securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	250	369
Level 1 \| United States \| Alternative investments
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 1 \| United States \| Cash and other
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	15	8
Level 2 \| United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	2	3
Level 2 \| United States \| Equity securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 2 \| United States \| Fixed income securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 2 \| United States \| Alternative investments
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 2 \| United States \| Cash and other
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	2	3
Level 3
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	10	194	$ 9
Level 3 \| United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| United States \| Equity securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| United States \| Fixed income securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| United States \| Alternative investments
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| United States \| Cash and other
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Subtotal \| United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	267	380
Subtotal \| United States \| Equity securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Subtotal \| United States \| Fixed income securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	250	369
Subtotal \| United States \| Alternative investments
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Subtotal \| United States \| Cash and other
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	17	11
NAV-based assets \| United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	401	463
NAV-based assets \| United States \| Equity securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	70	158
NAV-based assets \| United States \| Fixed income securities and funds
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	329	303
NAV-based assets \| United States \| Alternative investments
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	2	2
NAV-based assets \| United States \| Cash and other
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Defined benefit plan, fair value of plan assets	$ 0	$ 0